SAN DIEGO – In the latest dust-up over new financial technology, Mitek Systems responded to a patent infringement suit filed against it by USAA over remote deposit capture technology by filing its own patent suit against the Texas insurance company.
In its suit, USAA says it invented the remote deposit capture technology and that Mitek stole the company's proprietary information.
Mitek followed up with its own suit last week claiming that it holds the patent to the RDC technology and that USAA has stolen its patent by introducing a “knock-off” version. Mitek says in its suit it entered into a 2006 licensing agreement that gave USAA the right to use Mitek's software to process a limited number of transactions.
The dualing patent suits come amid recent legal battles over mobile banking technology, card customization and transmission of encrypted data, dragging numerous credit unions into court.
The Mitek patents are all related to the Mobile Deposit product the company introduced in 2008, which has been adopted by several big credit unions.
