Bank of America had 41 patents in mobile during Q3 2023. Bank of America Corp filed several patents during Q3 2023. One patent describes a system for electronic tokenization of resource distribution instruments, allowing secure credentials and instructions to be provided to a resource distribution instrument network for token requests. Another patent focuses on intelligent assessment of resource volume in secure containers, using digital images and Non-Fungible Tokens (NFTs) to determine current resource advancement volume. A third patent involves convenient resource transfer initiation and execution through voice communication and automatic identification of eligible users. The fourth patent introduces methods for accelerating the remediation of broken transactions using parallel machine learning processing and optimization. Lastly, a system is described that allows users to seamlessly transition between devices while maintaining their active user session and displaying the last user interface and information on the new device. 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 mobile as a theme is 46% in Q3 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for electronic tokenization of resource distribution instruments (Patent ID: US20230274266A1)
The patent filed by Bank of America Corp. describes systems, computer program products, and methods for electronic tokenization of resource distribution instruments. The invention involves receiving a request for a secure credential for a resource distribution instrument from a user device associated with a user. The secure credential is generated in response to the request and does not contain information identifying the resource distribution instrument. The secure credential is then provided to a resource distribution instrument network along with instructions to configure the network. The network is configured to provide a token for use by a second entity system during distributions between the user and the second entity system. The token does not contain information identifying the resource distribution instrument. When a distribution is initiated by the second entity system using the token, resources are transferred from a source retainer associated with the resource distribution instrument to another source retainer associated with the second entity system.
The system described in the patent includes at least one non-transitory storage device and at least one processing device. The processing device is configured to receive the request for a secure credential, generate the secure credential, and provide it to the user device. It also provides the secure credential and instructions to configure the resource distribution instrument network. The network is configured to provide a token in response to a token request from the second entity system and transfer resources when a distribution is initiated using the token. The system can also determine if the token or secure credential has expired and deny the distribution if necessary.
The patent also describes a computer program product that includes code causing a first apparatus to perform the same functions as the system. Additionally, a method is outlined for electronic tokenization of resource distribution instruments, which involves receiving a request for a secure credential, generating the secure credential, providing it to the first entity channel, providing the secure credential and instructions to the resource distribution instrument network, and transferring resources when a distribution is initiated using the token.
Overall, the patent describes a system, computer program product, and method for electronic tokenization of resource distribution instruments, allowing for secure and efficient distributions between users and entities.
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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.
