Bank of America had 171 patents in digitalization during Q1 2024. Bank of America Corp has filed patents related to a screen-less ATM that interacts with a mobile device, storing data using robotic process automation and blockchain, energy optimization for event processing, mobile banking at ATMs using a mobile device, and optimizing batch data processing in enterprise environments. These patents aim to improve user experience, data storage efficiency, energy usage, and processing speed in banking operations. 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 digitalization as a theme is 38% 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 and prompts the user to access banking services using the mobile device. User identification information is verified via the mobile device, enabling access to banking services and viewing account-related information. The method involves short-range wireless communication, user permission verification, and interaction with a mobile application for accessing the ATM services.

The claims detail the process of enabling banking transactions at a screen-less ATM using a mobile device, including options for deposits, withdrawals, and multi-factor authentication. The method involves short-range wireless communication technologies like NFC or Bluetooth, as well as mobile applications for user interaction. The ATM is designed to accept deposits, dispense withdrawals, and monitor security using the mobile device's camera. Overall, the patent outlines a secure and convenient method for users to access banking services at a screen-less ATM using their mobile devices.

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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.