Bank of America had 168 patents in digitalization during Q4 2023. The Bank of America Corp filed patents related to dynamic data encryption in network sessions, ATM systems with mobile computers, distributed ledgers for OTP verification, security measures for resource exchange events in virtual environments using AI and NFTs, and dynamic management of stored cache data based on usage information for improved performance. GlobalData’s report on Bank of America gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Bank of America grant share with digitalization as a theme is 55% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: System for dynamic data encryption in an active network session (Patent ID: US20230419329A1)
The patent filed by Bank of America Corp. describes a system, computer program product, and method for dynamic data encryption in an active network session. The invention involves initiating an active network session with a user input device, receiving a resource transfer request from a user, triggering a dynamic data encryption engine, generating a digital identifier for the request, executing the request using the identifier, displaying a notification to the user, and terminating the session. The system includes a storage device and processor to perform these functions.
The claims detail additional features such as receiving a DDE registration request, prompting for user information, authenticating users, and transferring resource parameters like network session identifier, user information, merchant details, resources, and payment information. The digital identifier is unique to each request and can be decrypted to extract different portions of resource parameters for merchant resource transfer and payment reconciliation. The computer program product and method mirror the system's functions, emphasizing the dynamic data encryption process in an active network session and the secure transfer of resources and payment information.
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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.
