Software

Bank of America now holds nearly 6,600 patents

Photo: Adobe Stock

March 14, 2024

Bank of America announced its patent portfolio has grown to nearly 6,600 granted and pending patent applications. This is an increase of 70% since 2019 and 13% year-over-year, according to a press release.

The bank employs more than 7,300 inventors, of which 26% are women, and it invests $12 billion annually on technology.

"Technology helps us deliver world-class capabilities to clients, enabling them to manage their finances efficiently and securely and to interact with us when, where and how they want," Aditya Bhasin, chief technology and information officer for Bank of America, said in the release. "We innovate to meet and anticipate our clients' needs. As our pace of innovation accelerates, we're continually listening to clients and building solutions to improve and simplify their experiences."