Royal Bank of Canada had 17 patents in cybersecurity during Q4 2023. The Royal Bank of Canada filed patents related to secure data sets for electronic payment transactions, detecting phishing events, controlling access to entity data, and generating access entitlements to networked computing resources. These patents involve creating pre-funded payment token data sets, using machine learning to detect malicious users, storing secret keys for entities, and predicting access entitlements based on user identifiers and hierarchical levels. GlobalData’s report on Royal Bank of Canada gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Royal Bank of Canada grant share with cybersecurity as a theme is 35% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems, methods, and devices for secure generation and processing of data sets representing pre-funded payments (Patent ID: US20230401554A1)
The patent filed by the Royal Bank of Canada pertains to systems, devices, and methods for secure data processing in electronic payment transactions, specifically focusing on pre-funded payment token data sets. The invention involves the creation, administration, and transfer of secure data items representing monetary value between network communication devices for use in transactions. The user device described in the patent includes a data processor and persistent memory with secure data storage media and instructions to access, generate, modify, and route secure negotiable pre-funded token transfer data sets associated with ledger accounts. These data sets can include payment authorizations, verification data, and gift personalization data, and are sent to network addresses for processing.
The patent also outlines a computer-implemented method for accessing, generating, modifying, and routing secure negotiable pre-funded token transfer data sets. These data sets can be associated with ledger accounts like credit cards, debit accounts, or loyalty programs and may include gift personalization data. The method involves routing delivery notifications to network addresses, initiating recipient verification processes, and generating multiple secure data sets for different recipients. Notably, the routing of these secure data sets to network addresses associated with recipients excludes the involvement of third-party payment processors. Overall, the patent details a comprehensive system for secure electronic payment transactions using pre-funded payment token data sets, enhancing the efficiency and security of financial transactions.
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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.
