These banks continue to pursue intellectual property as a way to stay competitive and avoid commoditization. We take a look at the patents filed to see where top US banks are headed.
Bank of America, JPMorgan Chase, and Wells Fargo are the three largest banks in the US by assets, with businesses spanning investment services, consumer banking, and merchant services.
In an ultra-competitive industry, these banks are able to maintain and strengthen their competitive advantages by pursuing new intellectual property. Led by Bank of America, these three banks have large IP war chests, with a combined 2,500+ patent applications since 2013, and a particular focus on payments.