Bank of America has been granted a patent for a computing platform that utilizes smart tracking and dynamic authentication. The system captures user images, analyzes them with facial recognition, and establishes secure connections based on identified authentication requirements, enhancing user verification at point-of-sale locations. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Bank of America, Virtual banking assistant was a key innovation area identified from patents. Bank of America's grant share as of June 2024 was 83%. Grant share is based on the ratio of number of grants to total number of patents.
Smart tracking and dynamic authentication using facial recognition
The granted patent US12045822B2 describes a computing platform designed to enhance user interaction at point-of-sale (POS) systems through advanced detection and authentication methods. The platform utilizes at least one processor, a communication interface, and memory to execute computer-readable instructions. Key functionalities include continuous scanning for signals from user computing devices within a predefined range, capturing images of users via an image capture device, and employing facial recognition techniques to analyze these images. The system retrieves user profile data based on this analysis and identifies authentication and data transmission requirements based on the type of connection between the user’s device and the entity's computing system. The platform can initiate smart tracking and queue management functions upon successful authentication.
Additionally, the patent outlines various connection types, such as Bluetooth, ultra-wideband, or near field communication, which influence the authentication requirements. The user profile data may include prestored authentication and payment information. If the authentication response data does not match the required criteria, the system can request additional authentication data. The patent also covers non-transitory computer-readable media that store instructions for executing these processes, ensuring that the computing platform can effectively manage user interactions and enhance operational efficiency at retail locations.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
