Bank of America had 41 patents in metaverse during Q4 2023. The Bank of America Corp has filed patents related to leveraging augmented reality devices for secure user verification during complex resource activities, utilizing AI and ML for intelligent resource exchange event authentication, implementing a blockchain network for detecting suspicious data interactions in a mixed reality environment, and using augmented hash-based portioning for detecting unauthorized duplicates of non-fungible electronic resources. GlobalData’s report on Bank of America gives a 360-degreee view of the company including its patenting strategy. Buy the report here.

Bank of America grant share with metaverse as a theme is 29% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Systems and methods for multi-point validation in communication network with associated virtual reality application layer (Patent ID: US20230418365A1)

The patent filed by Bank of America Corp. focuses on leveraging augmented reality devices to streamline user interactions related to complex resource activities requiring high security. The system described in the patent involves verifying a user's identity through a third-party decentralized register, generating an augmented reality session using a machine learning engine, and transmitting a real-time video stream of a dynamic avatar to the user's augmented reality device. This avatar is altered based on user interactions, allowing for a personalized and interactive customer service experience. The system also references a multifactor digital authentication database to enhance security measures.

The patent outlines a computer program product and a computer-implemented method that follow similar principles as the system described. These include receiving interaction requests from users via augmented reality devices, conducting identity verification through decentralized registers, and facilitating augmented reality sessions with dynamic avatars. The system is designed to handle sensitive resource account actions such as title transfers, notarizations, and currency exchanges, ensuring a secure and efficient process for users. By utilizing blockchain technology for user verification and continuously updating the real-time video stream based on user inputs, the system aims to provide a seamless and engaging augmented reality experience for complex resource activities.

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.