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USAA and Bank of America Sign Patent Cross-License Agreement

Bank of America logoBank of America
Sig2.35Sen+1.75Env0.00Soc+0.10Gov+0.70

USAA and Bank of America entered into a patent cross-license agreement that lets each company use the other’s patent portfolio, including technologies for artificial intelligence, machine learning, information security, network infrastructure, payment processing, and mobile check deposit. Financial terms were not disclosed, and USAA said it may pursue similar licensing with other banks and credit unions.

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