Capital One Leads Banking Industry in Patents Awarded in 2020

Through an emphasis on diversity of ideas, Company secures 747 utility patents in 2020

Company tops patents awarded to financial institutions for the second consecutive year

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Jan 21, 2021, 10:30 ET

MCLEAN, Va., Jan. 21, 2021 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced that, for the second year in a row, the company led the banking industry for the most US utility patents awarded, securing 747 US utility patents over the course of the year.

Capital One's OnePatents program identifies new and innovative products and experiences across the company that enable high-touch, technology-centric banking solutions for its customers. Granted patents include emerging innovations in the fields of artificial intelligence, machine learning, blockchain, data and information security, along with ideas to enhance the customer experience across online and mobile banking platforms.

"At Capital One, we seek to use innovation and technology to make a meaningful impact on people's lives. This work is the core of what we do and the success of our patent program speaks to the ingenuity, talent, and creativity of our associates," said Frank LaPrade, Capital One's Chief Enterprise Services Officer and Chief of Staff to the CEO.

OnePatents is Capital One's patent initiative which underscores diversity and creativity as core ingredients to invention. The OnePatents team is comprised of individuals with a range of expertise whose common goal is to convert exciting concepts into meaningful innovation. In addition, the OnePatents team works with associates across all levels of the business to foster the full lifecycle of ideations, to ensure creativity is not limited in silos, to bring diverse perspectives to problem-solving, and to encourage everyone to become an inventor within Capital One.

"Innovation happens everyday at Capital One. The company built a simple, accessible program that encourages and motivates associates in all roles across the enterprise to showcase their creativity and become inventors," said Ariana Woods, Head of Intellectual Property at Capital One. "To some, the patent process can feel mysterious or even intimidating. With our OnePatents program, we want to break down those barriers and make it easy and welcoming for all associates to bring their ideas forward and work with our team. Patents are just one way to show how our associates work tirelessly to create a lasting impact for our customers and our company."

The diversity of ideas driving Capital One's patents originate from associates across all roles within the organization, from the C-suite to the stockroom. Over the course of the OnePatents program, Capital One has been awarded more than 1,800 patents invented by more than 1,300 associate inventors.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $305.7 billion in deposits and $421.9 billion in total assets as of September 30, 2020. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.