According to GlobalData’s company profile on Bank of America, Virtual banking assistant was a key innovation area identified from patents. Bank of America's grant share as of May 2024 was 73%. Grant share is based on the ratio of number of grants to total number of patents.

Securing electronic communication using personalized security token

A recently granted patent (Publication Number: US12003646B2) outlines a method for securing electronic communications through the use of personalized security tokens. The method involves creating and storing an anti-phish, personalized security token for a specific account on a computing device during a registration process. This token is then linked to the account in a database associated with an enterprise. In the in-use process, the token is injected into electronic communications at the database and verified on the recipient's computing device, ensuring secure transmission and display of the communication.

Furthermore, the patent includes variations such as using numeric codes or photographs as security tokens, allowing users to select from a range of options for their personalized token. The method also covers scenarios where multiple electronic communications are intercepted and processed through the database, ensuring each recipient receives a unique and secure communication. The system described in the patent involves an originating server, an edge server, and a database located at the entity, providing a comprehensive solution for securing electronic communications across various channels like email, SMS, and instant messaging.

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