Nenad Crnčec
It’s the first lawsuit USAA has filed since it warned last year that it would be reaching out to banks and credit unions to “pay their fair share” by licensing the company’s patented technology that allows customers to deposit checks remotely using mobile devices.
USAA seeks unspecified financial damages from Wells Fargo in the suit filed Thursday in U.S. District Court in Marshall.
“Wells Fargo is one of the biggest adopters of remote deposit capture,” said Nathan McKinley, USAA’s head of Corporate Development, which includes commercialization of the company’s intellectual property. “We believe they are leveraging the technology to improve their bottom line, and they failed to take a license.”
More than 21 million Wells Fargo customers use mobile banking, USAA says in its lawsuit.
The lawsuit states it’s “improper for Wells Fargo to use, without permission, patented technologies that USAA has spent immense resources to invent, develop, implement and perfect.”
