Today the bank is announcing it has recorded the most patents granted in the first half of any year in the company’s history. The U.S. Patent Office granted Bank of America 341 patents during the first half of 2022, which is a 50% increase, year over year. Patents granted include client focused innovations related to security, privacy, fraud detection, payment technologies, artificial intelligence, machine learning, and mobile banking. The bank has more U.S. patents than any other financial services company.
Bank of America is the first financial services firm to launch virtual reality (VR) training in nearly 4,300 financial centers nationwide. This innovative training technology will allow approximately 50,000 employees to practice a range of routine to complex tasks and simulate client interactions through a virtual environment.