Toronto-Dominion Bank had 39 patents in mobile during Q4 2023. The Toronto-Dominion Bank has filed patents related to managing transactions between fiat and crypto accounts in a digital wallet, predicting recurring expenses and transferring funds accordingly, facilitating buy-now pay-later transactions using fiat and cryptocurrency, managing loyalty program accounts through a loyalty wallet application, and predicting future cryptocurrency values for transactions and storing them in a blockchain wallet. GlobalData’s report on Toronto-Dominion Bank gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Toronto-Dominion Bank grant share with mobile as a theme is 38% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Blockchain-based security token for kyc verification (Patent ID: US20230419309A1)
The patent filed by The Toronto-Dominion Bank describes a system that stores transaction data from both fiat and crypto accounts of a digital wallet, analyzes historical usage patterns, creates a security token embedding this information, verifies it through a blockchain consensus process, and commits it to a blockchain ledger. The system aims to enhance security and efficiency in transactions by utilizing blockchain technology to validate user information and transaction history.
The apparatus and method outlined in the patent involve identifying usage ratios of fiat and crypto accounts, embedding merchant and product preferences, and utilizing a digital token compliant with ISO standards. By integrating blockchain technology, the system can verify the security token with multiple blockchain peers, approve or deny payment transactions based on historical usage characteristics, and execute transactions through identified payment networks. This innovative approach ensures secure and reliable transactions by leveraging blockchain consensus mechanisms and user-specific data stored within the security token.
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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.
