Bank of America patents 227 solutions

Bank of America has revealed it has patented 227 solutions during the first half of 2021.

The number, which includes artificial intelligence (AI), machine learning (ML), information security, data analytics, and mobile banking and payments solutions, represents a 23 per cent year-on-year rise for the bank.

The bank said it has applied for 403 patents overall during 2021 and that 85 per cent of its workforce is continuing to work from home during the pandemic.

The number of patent applications filed in the US Patent and Trademark Office from 2000 to 2020 experienced only two significant drops according to the banking giant, in 2009 post financial crash and in 2020 during the pandemic.

The bank said its patent portfolio consists of 4,943 patents granted or applied for, resulting from the work of nearly 6,000 inventors based in 42 US states and 13 countries around the world.

In 2021, the bank claimed it has been cited by more than 2,800 patents and applications from a variety of industries, and that it has been cited more than 38,000 times.

Manu, a senior vice president at the bank, recently filed patent applications for technology to enable authentication and data access capabilities according to Bank of America.

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