Toronto-Dominion Bank had four patents in internet of things during Q4 2023. The Toronto-Dominion Bank filed patents for an ambient commerce system that includes sensors, communication modules, and processors to detect and authenticate entities at a premises for conducting ambient commerce operations. Another patent involves a method using sensor readings from multiple homes to determine live home scores and send them to the respective computing devices. GlobalData’s report on Toronto-Dominion Bank gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Toronto-Dominion Bank grant share with internet of things as a theme is 25% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Distributed authentication in ambient commerce (Patent ID: US20230385890A1)
The patent filed by The Toronto-Dominion Bank describes an ambient commerce system that utilizes sensors, communication modules, processors, and memory to detect unauthenticated entities at a commerce premises, authenticate them using multiple authentication parameters from independent trusted systems, and perform commerce operations for the authenticated entities. The system can determine authentication based on a threshold of parameters such as facial profiles, voiceprints, fingerprints, credentials, locations, and behavioral indications.
Furthermore, the system allows for the comparison of sensor data with stored profile data to verify authentication, with indications uniquely identifying the trusted systems as sources of authentication. The method outlined in the patent involves detecting unauthenticated entities, receiving authentication indications from trusted systems, determining authenticated status based on multiple parameters, and conducting commerce operations. The use of independent trusted systems, remote from the ambient commerce system, ensures secure and reliable authentication processes, with financial institution systems being one example of such trusted systems.
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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.
