Bank of America announced in February that it had been granted more than 600 patents last year. The bank’s chief technology and information officer Aditya Bhasin pointed out that annual investment of more than $10 billion has led to a portfolio of solutions that now spans artificial intelligence (AI), cybersecurity and payments.
Alex Johnson, head of innovation in global transaction services at Bank of America, says: “We are focused on three areas of innovation. The first area addresses the inevitable move towards a 24×7 world of transactions and includes tools to support making payments faster and more transparent, while not compromising on security.”
The second area targets the continued digitalization of corporate treasury.
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