Bank of America had 221 patents in cybersecurity during Q1 2024. Bank of America Corp has filed patents for a screen-less ATM that interacts with mobile devices, a system for securely transmitting cryptographic certificates, a method for identifying and preventing misappropriation using normalized request sequences, implementing an internal entity intermediate certificate authority, and multifactor user authentication leveraging secure tokenization. These innovations aim to enhance security and user experience in banking services. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.

Bank of America grant share with cybersecurity as a theme is 37% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Banking at a screen-less atm using a mobile device (Patent ID: US20240104533A1)

The patent filed by Bank of America Corp. describes a screen-less automated teller machine (ATM) that interacts with a mobile device for banking transactions. The ATM automatically detects the presence of the mobile device using short-range wireless communication, prompts the user to select banking services, verifies user permission via user identification information, and enables access to banking services on the mobile device. The mobile device can be used to view and input banking-related information at the ATM, with an application facilitating the interaction between the mobile device and the ATM.

The method outlined in the patent involves enabling banking transactions at a screen-less ATM using a mobile device, with features such as deposit and withdrawal options, multi-factor authentication, and monitoring security using the mobile device's camera. The ATM communicates with the mobile device via short-range wireless communication like NFC or Bluetooth, and the user can access banking services through a mobile application. The patent also covers the process of verifying user permission, submitting requests for deposits or withdrawals, and providing access to various banking services at the screen-less ATM, enhancing user convenience and security during transactions.

To know more about GlobalData’s detailed insights on Bank of America, buy the report here.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.