According to GlobalData’s company profile on Plaid, EMV tokenization was a key innovation area identified from patents. Plaid's grant share as of June 2023 was 1%. Grant share is based on the ratio of number of grants to total number of patents.

The patent filed is for a system and method for verifying account ownership using verified deposits

Source: United States Patent and Trademark Office(USPTO). Credit: Plaid Inc

A recently filed patent (Publication Number: US20230137660A1) describes a computer-implemented method for verifying user accounts associated with financial institutions. The method involves a verification platform computing device receiving account login credentials from a financial institution computing device. These credentials are associated with a user account that has been verified by the financial institution.

Once the account login credentials are received, the verification platform computing device accesses the user account using these credentials and obtains account information. The method also includes depositing an amount to the user account using the obtained account information.

Additionally, the verification platform computing device accesses the user account via the financial institution computing device to obtain the transaction history of the user account. From this transaction history, the method identifies the deposit amount. Upon identifying the deposit amount, the user account is verified.

The patent also includes several additional features. The verification platform computing device can verify the user account using the account login credentials. This verification can be done through various means, such as a browser plugin, system service, web widget, or mobile application.

The verification platform computing device can also monitor the user account by periodically accessing it. It can store the account login credentials and transmit an indication of verification of the user account to either a user computing device or the financial institution computing device.

The patent also describes a verification platform computing device that includes one or more processors and a computer-readable storage medium. The processors execute program instructions to perform the method described above.

Furthermore, the patent includes non-transitory computer-readable media that contain computer-executable instructions. When executed by a computing device, these instructions perform the operations described in the method.

In summary, the patent describes a computer-implemented method and corresponding computing devices for verifying user accounts associated with financial institutions. The method involves accessing user accounts using login credentials, depositing amounts, obtaining transaction history, and verifying the user account based on the deposit amount. The patent also includes additional features such as various verification methods, monitoring of user accounts, and storage and transmission of account information.

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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.