Bank of America has filed for patents that reveal new mobile technologies that could be in the pipeline for deployment. The patents involve using a smartphone’s camera to capture a live environment and recognizing objects in it.
Several banks already use augmented-reality capabilities to power certain services. PNC Bank and U.S. Bank offers iPhone apps that find bank branches and ATMs. When the user points their iPhones in a certain direction the app will display the actual environment and a graphic that points to a branch or ATM in that general direction.
Banks could also use the technology to display locations of merchants that offer deals and discounts.
The patent filings could mean that Bank of America customers will have access to this technology in the future.