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USAA and Mitek Systems settled a two-and-a-half year-old dispute over who invented the technology for mobile check deposit, with both companies' patents remaining intact and neither side paying the other.
September 4 -
Mitek Systems is offering financial institutions a mobile photo account opening feature, using a mobile device's camera to scan and capture any needed documentation. The software also lets the customer immediately fund the account using mobile check capture.
September 10
Mitek Systems and Top Image Systems have agreed to settle all pending patent infringement litigation between them.
The settlement was reached less than a week after
Mitek filed the lawsuit against TIS, a provider of enterprise content management, business process management, and mobile imaging software, in September 2012.
In dueling press releases, the two companies hurled mild insults at one another.
"I am satisfied that as a result of the outcome of their litigation with USAA, Mitek realized that their case against TIS was weak and their patent portfolio was ineffective," said Izhak Nakar, founder and executive chairman of TIS." With this litigation behind us, TIS is prepared for exponential growth of our innovative mobile imaging platform and applications in the U.S. and around the globe."
In Mitek's press release, the company said, "To date, [Mitek] believes that Top Image has not established a meaningful customer base in the United States for a mobile check deposit product on which it could pay royalties. Mitek's patent portfolio remains strong and the company is confident that it would have been successful on the merits if the matter had gone to trial." CEO James DeBello also said that if TIS were to pick up U.S. market share, "we remain prepared to protect our intellectual property for Mobile Deposit as well as our other technology from any company that infringes on our patents and causes Mitek meaningful harm."
