Bank of America Granted Most U.S. Patents in the Financial Services Industry
September 25 2019 - 8:00AM
Business Wire
For the seventh consecutive year, Bank of America remains the
top financial services institution on the Intellectual Property
Owners Association’s annual list of 300 organizations granted the
most United States patents, and is in the top 10 of all holders of
United States banking-related patents and applications.
“Technology is important to banking and how we connect with our
customers and clients,” said Cathy Bessant, Bank of America’s chief
operations and technology officer. “Our competitive advantage is
driven by innovation and creativity. Patents allow us to protect
our investment in new products and services and lead the industry
in commercial application.”
Bank of America’s patent portfolio consists of more than 3,500
patents and applications, including 24 for its award-winning
virtual financial assistant Erica®, which has nearly 8 million
users and completed more than 55 million client requests since
being launched last year. Bank of America also has more than 5,000
inventors from 42 states and 12 countries. So far in 2019, the
company has been cited in nearly 2,000 newly published patents and
applications from a variety of industries, including well-known
technology companies.
Nearly half of the Bank of America’s 2018 patents relate to
pioneering advancements in artificial intelligence, blockchain,
cybersecurity and mobile banking. Others involve utilizing
technology to promote accessibility, like voice authentication
allowing employees or customers with disabilities to use voice
control to improve functionality of a service.
Bessant added: “These results show that Bank of America’s
employees are, in fact, inventors, not only leading the way in
financial services, but also shaping the direction of the
technology landscape overall.”
For more information about Bank of America’s innovation
leadership, see "The future of finance: part tech, still
human".
Bank of America Bank of America is one of the world’s leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
66 million consumer and small business clients with approximately
4,300 retail financial centers, including approximately 2,200
lending centers, 2,400 financial centers with a Consumer Investment
Financial Solutions Advisor and 1,700 business centers;
approximately 16,600 ATMs; and award-winning digital banking with
more than 37 million active users, including approximately 28
million mobile users. Bank of America is a global leader in wealth
management, corporate and investment banking and trading across a
broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America
offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations across the United States, its territories and
approximately 35 countries. Bank of America Corporation stock
(NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom. Click here to register for news email alerts.
www.bankofamerica.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190925005083/en/
Reporters May Contact: Mark Pipitone, Bank of America,
1.980.387.4907 mark.pipitone@bofa.com
Bank of America (NYSE:BAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bank of America (NYSE:BAC)
Historical Stock Chart
From Sep 2023 to Sep 2024