Secure Axcess, an Internet security technology company, has settled a patent infringement lawsuit with six banks and a credit union.
The financial institutions have licensed Secure Axcess's eponymous identity and access management technology, the Prism Technologies unit said Monday. Secure Axcess's technology relates to the use of a security image for authentication, which is meant to protect online customers from phishing and other forms of fraud.
The companies that agreed to the settlement are: the $95.2 billion-asset Harris Bank in Chicago, which was rebranded by BMO Financial Group as BMO Harris Bank last year; the $2.1 billion-asset American National Bank of Texas in Terrell; the $1.3 billion-asset Austin Bank in Jacksonville, Texas; the $792 million-asset Citizens 1st Bank in Tyler, Texas; the $845 million-asset First Bank & Trust East Texas in Diboll; the $1.2 billion-asset North Dallas Bank & Trust; and InTouch Credit Union in Plano, Texas.
Bank of America (BAC), BBVA Compass, ING Bank and 11 other financial institutions remain as defendants in the case.
Secure Axcess is being represented by Nix, Patterson & Roach, the Texas law firm that represented check-processing company DataTreasury in its patent infringement lawsuit against dozens of banks.
The patent infringement case was filed in the Tyler Division of the U.S. District Court for the Eastern District of Texas.