PLANO, Texas – InTouch CU and six banks have agreed to settle a patent infringement case over the process for authenticating an identity at a website in exchange for a license to use the technology, the parties announced this morning.
The company, Secure Axcess LLC, said it will dismiss its patent infringement claims brought last year in exchange for the license to use its identity and access management technology.
Secure Axcess's technology relates to the use of a security image for authentication, and it is widely used by the banking industry to protect online customers from phishing and other forms of fraud. It was originally developed by engineers working at American Express and is covered by U.S. Patent No. 7,631,191.
American National Bank of Texas, Austin Bank, Citizens 1st Bank, First Bank & Trust East Texas, Harris Bank, and North Dallas Bank & Trust have also agreed to settle the patent suit by licensing the technology.
Bank of America, BBVA Compass, ING Bank, and 11 other financial institutions remain active defendants in the case.
Secure Axcess is represented in this matter by Nix, Patterson & Roach, the Texas-based law firm known for representing the check-processing company DataTreasury Corp. in its successful patent infringement litigation against Bank of America, JPMorgan Chase, Citibank, and dozens of other major banks.
