Wells Fargo & Co. has filed a patent for managing network entities in an end-of-life context. The method involves identifying vulnerable network entities based on end-of-life data, computing a risk score, and determining potential mitigating actions to limit network access. GlobalData’s report on Wells Fargo & Co gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Wells Fargo & Co, Virtual banking assistant was a key innovation area identified from patents. Wells Fargo & Co's grant share as of January 2024 was 90%. Grant share is based on the ratio of number of grants to total number of patents.

Managing network entities based on end-of-life data

Source: United States Patent and Trademark Office (USPTO). Credit: Wells Fargo & Co

The patent application (Publication Number: US20240039950A1) describes a method, system, and computer-readable medium for managing end-of-life information of network entities. The method involves receiving end-of-life information from data sources, identifying vulnerable network entities, computing risk scores based on end-of-life information and vendor stability, and determining mitigating actions to limit network access to vulnerable entities. The system includes a processor and memory storing instructions for scanning network entities, identifying vulnerable entities, computing risk scores, and determining mitigating actions. Additionally, the system can predict end-of-life based on historical data, perform cost-benefit analysis for mitigating actions, and manage end-of-life contracts.

The disclosed technology aims to enhance network security by proactively managing vulnerable network entities based on end-of-life information and vendor support. By continuously scanning the network, identifying vulnerable entities, and computing risk scores, potential mitigating actions can be determined to limit network access and prevent security breaches. The system's ability to predict end-of-life, perform cost-benefit analysis, and manage contracts adds a layer of sophistication to network security management. Overall, the patent application introduces a comprehensive approach to safeguarding network entities by leveraging end-of-life information and vendor stability to mitigate security risks effectively.

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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.