Financial institution of America Units Report for Patents Granted Throughout First Half of 2022

At this time the financial institution is saying it has recorded essentially the most patents granted within the first half of any yr within the firm’s historical past. The U.S. Patent Workplace granted Financial institution of America 341 patents through the first half of 2022, which is a 50% enhance, yr over yr. Patents granted embrace consumer centered improvements associated to safety, privateness, fraud detection, fee applied sciences, synthetic intelligence, machine studying, and cell banking. The financial institution has extra U.S. patents than another monetary providers firm. 

• 5,556 patents pending or granted
• 6,500 financial institution inventors primarily based in 43 U.S. states and 14 international locations all over the world, and throughout all eight traces of enterprise
• 26% of the financial institution’s inventors are ladies, whereas lower than 17% of inventors nationwide are ladies
• 1,000 data safety patents pending or granted, essentially the most amongst monetary providers corporations

“The variety of our patent-winning portfolio represents the various experiences and distinctive views of greater than 6,500 inventors all over the world,” mentioned Aditya Bhasin, Financial institution of America’s Chief Know-how and Info Officer. “Their want to deal with consumer wants, safeguard consumer data and create new options that helps purchasers construct higher monetary lives drives our record-breaking patents streak.”

International Info Safety teammate and retired Marine Corps Reservist Michael Younger, a prime firm inventor, has filed 65 patents that span throughout cybersecurity, synthetic intelligence, information safety and extra.

“The financial institution has fostered a tradition of innovation, and patents are only one approach for technologists to precise our creativity,” he mentioned. “Whereas I’m enthusiastic about inventing, one of the best half is the chance to collaborate with gifted teammates throughout the group.”

Different corporations usually cite Financial institution of America patents as influencing their efforts. To date in 2022, the financial institution has been cited by greater than 2,400 patents and purposes from quite a lot of industries, together with well-known know-how corporations. Traditionally, the financial institution has been cited greater than 43,000 instances.

Picture Description

Financial institution of America is likely one of the world’s main monetary establishments, serving particular person customers, small and middle-market companies and huge firms with a full vary of banking, investing, asset administration and different monetary and threat administration services. The corporate gives unmatched comfort in america, serving roughly 67 million shopper and small enterprise purchasers with roughly 4,000 retail monetary facilities, roughly 16,000 ATMs and award-winning digital banking with roughly 55 million verified digital customers. Financial institution of America is a world chief in wealth administration, company and funding banking and buying and selling throughout a broad vary of asset lessons, serving firms, governments, establishments and people all over the world. Financial institution of America provides industry-leading assist to roughly 3 million small enterprise households via a collection of progressive, easy-to-use on-line services. The corporate serves purchasers via operations throughout america, its territories and roughly 35 international locations. Financial institution of America Company inventory (NYSE: BAC) is listed on the New York Inventory Change.

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Alex Lawson, Financial institution of America
Telephone: 1.704.387.8291
[email protected]

Catherine Web page, Financial institution of America
Telephone: 1.704.519.7314
catherine.web [email protected]

 

Picture Description for 2022 first half breakdown of Financial institution of America Patents Granted

Know-how classes for the 341 patents granted

• 18 % are Programming know-how
• 20 % are Synthetic intelligence and machine studying for monetary providers
• 21 % are Info safety
• 16 % are Fee know-how
• 14 % are On-line, cell and shopper banking
• 6 % are Blockchain
• 5 % are Information analytics