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Bank of America Sets Record-Breaking Year for Patents in 2021


March 18, 2022

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As reported by Stockhouse, Bank of America continues to break records with respect to patent grants.


In 2021, the United States Patent and Trademark Office granted the bank 512 patents across various technology categories, a 16% increase from 2020. Specifically, the bank saw a 31% increase in artificial intelligence (AI) patents, an 86% increase in blockchain patents, a 32% increase in data analytics patents, and a 40% increase in payment-related patents.


According to Aditya Bhasin, Chief Technology and Information Officer for Bank of America, the bank’s employees have a client-focused passion for turning ideas into innovation. Bhasin noted that the bank’s employees are continually creating applications that deliver capabilities and digital solutions to meet client needs.

 

Authors: Bukola Adelusi and Larissa Fulop

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