US banks increasingly wield the patent weapon

Posted on Sep 4, 2021 at 8:07 amUpdated Sep 4, 2021, 8:42 AM

During the pandemic, the gray eminences of American banks have not been idle. For a year and a half, Bank of America has been beating record after record in terms of patent filing. In the first six months of 2021, the second-largest US bank in terms of assets was granted 227 patents by the US Patent and Trademark Office, 23% more than last year over the same period, and applied for the filing of another 403. It may even soon make its entry into the top 100 most active American companies in terms of intellectual property.

Over the whole of 2020, it had already exploded the counters, filing 722 patent applications (for 444 obtained, 6% more than in 2019, the year when it had already broken a previous record). All in a delicate context: 85% of its employees worked from home and the number of patents filed in the United States fell by 1% overall.

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