Capital One Financial had one patents in edge computing during Q4 2023. Capital One Financial Corp has filed a patent for a system that authenticates users and detects fraud at a card reader by analyzing card movement before an unauthorized transaction occurs. The system uses a sensor to capture the movement of a card during its presentation to the card reader, comparing this data to pre-stored information associated with the card owner to authenticate the user and authorize transactions. GlobalData’s report on Capital One Financial gives a 360-degreee view of the company including its patenting strategy. Buy the report here.

Capital One Financial grant share with edge computing as a theme is 0% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Authenticating a card based on card movement (Patent ID: US20230419324A1)

The patent filed by Capital One Financial Corp. focuses on user authentication and fraud detection at a card reader by capturing and analyzing card movement data. The disclosed method involves sensing the movement of a card near a card reader, capturing the movement data, comparing it to pre-stored data of the card owner, and authenticating the user if the comparison meets a predetermined threshold. The system includes a sensor, correlator, and authenticator to validate the user based on the card movement data, allowing a financial transaction to proceed. The method also considers physical contact between the card and the reader, uses Fourier transform for data comparison, and incorporates machine learning models for accuracy.

Furthermore, the patent describes the use of sensors embedded within the card, such as accelerometers or 9-axis sensors, to capture movement data. It also includes features like detecting waving motions of the card, setting flags for card presence, and adjusting the comparison threshold based on transaction specifics. The system utilizes edge computing on IoT devices and machine learning models to enhance the accuracy of matching card movement data with pre-stored data. Additionally, the method allows for customization of the authentication process based on the type, amount, or timing of the financial transaction, ensuring a secure and efficient user verification process.

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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.