The Edward Jones brokerage has signed a licensing agreement with the payment processor DataTreasury Corp. for its patented check-image archiving processes.
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DataTreasury, a Plano, Tex., processing company, has asserted patent rights over several technologies that it claims are central to check imaging; it has suits pending against dozens of major financial services companies.
It announced the Edward Jones agreement on Monday for adopting a centralized check processing and archiving system throughout its network of branches.
Numerous financial services companies have reached similar settlements with DataTreasury, including Zions Bancorp.'s check-image unit NetDeposit Inc. and JPMorgan Chase & Co.
