Bank of America scored a record 341 US patents in the first half of 2022, a 50% year-on-year increase, with information security and AI seeing the most action.
Having boasted last year of a record 227 patents, the bank has stepped up its efforts again and now has 5556 patents pending or granted, more than any other financial services company.
Information security accounts for 21% of the new patents, AI 20%, programming technology 18% and payments 16%.
BofA's patent portfolio is the work of 6500 bank inventors based in 43 US states and 14 countries around the world, and across all eight lines of business. More than a quarter - 26% - of the bank’s inventors are women.
Aditya Bhasin, chief technology and information officer, BofA, says: "The diversity of our patent-winning portfolio represents the diverse experiences and unique perspectives of more than 6,500 inventors around the world.
“Their desire to address client needs, safeguard client information and create new solutions that helps clients build better financial lives drives our record-breaking patents streak.”