USAA announced that it was awarded $200 million in a U.S. District Court jury trial in Marshall, Texas, involving a patent infringement case over Wells Fargo involving its remote deposit capture technology.
USAA originally filed suit in June 2018 alleging Wells Fargo Mobile Deposit infringed on certain USAA patents for remote check capture.
“The verdict acknowledged the value of USAA’s innovation on behalf of members,” Nathan McKinley, USAA vice president of corporate development, said in a company release. “We hope the industry acknowledges this verdict as further evidence of the enforceability of these patents.”
He said the company’s goal was to be reasonably compensated for the benefits that it believes the industry received for the technology.