JPMorgan Chase & Co. has filed a patent for a method to execute an auto-provisioning workflow between a co-branded partner and a card issuer. The processor establishes a communication link, transmits a message with reward identification, identifies the card, and automatically transmits card information to the partner. GlobalData’s report on JPMorgan Chase & Co gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
According to GlobalData’s company profile on JPMorgan Chase & Co, Retail trading platforms was a key innovation area identified from patents. JPMorgan Chase & Co's grant share as of January 2024 was 90%. Grant share is based on the ratio of number of grants to total number of patents.
Automated process for linking co-branded cards with rewards accounts
The patent application (Publication Number: US20240037535A1) describes a method and system for executing an auto-provisioning workflow between a co-branded partner computing device and a co-branded card issuer computing device. The method involves establishing a communication link, transmitting a message with a reward identification number, identifying the co-branded card associated with the customer, and executing an auto-provisioning workflow to transmit card information data to the partner device. The system includes a processor and memory storing instructions for communication, identification, and execution of the auto-provisioning workflow.
Furthermore, the method and system involve determining if the co-branded card is a newly created account, fetching card information data from a database, and adding it as a payment mechanism on the partner device. The co-branded card, sponsored by both the partner and issuer, offers benefits and rewards tailored for the customer. The co-branded card can be a credit card, reward card, gift card, or debit card, with data including the account number, customer name, billing address, and expiration date stored and transmitted during the auto-provisioning process. Overall, the patent application outlines a comprehensive approach to streamline the provisioning of co-branded cards between partners and issuers, enhancing customer experience and operational efficiency in the process.
To know more about GlobalData’s detailed insights on JPMorgan Chase & Co, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
