Bank of America had seven patents in social media during Q4 2023. The Bank of America Corp filed patents in Q4 2023 for systems and methods related to an integrated secondary communication network for smart cards, using machine learning to modify account privacy settings, detecting and categorizing visual content associated with malicious electronic communication, and executing transactions with reduced latency and increased security on a blockchain-based digital platform. These patents focus on enhancing financial services, optimizing account settings, improving communication security, and streamlining transaction processes. 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 social media as a theme is 42% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Smart card with integrated low power secondary communication network (Patent ID: US20230385807A1)

The patent filed by Bank of America Corp. describes systems and methods for an integrated secondary communication network using a smart card. The smart card, linked to a financial institution account, allows users to access a limited subset of financial services when a pre-determined trigger event occurs, bypassing the primary communication network. The smart card transmits communication packets to a gateway of the secondary network, which then forwards them to a server for service execution. The system includes a primary communication network, a secondary communication network with a server, end nodes, and a gateway, and a machine-learning engine to predict network operability.

The claims detail the components of the system, including the smart card's features, the primary and secondary communication networks, and various trigger events like network failure or user opt-in. The method involves presenting service options via the smart card's user interface, transmitting communication packets to the secondary network for service execution, and utilizing machine-learning to predict user needs. The system's design ensures user convenience and efficiency, with the smart card's compact dimensions and touchscreen interface enhancing usability. Overall, the patent outlines a sophisticated network architecture that streamlines financial service delivery through innovative technology and predictive analytics.

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.