Discover Financial Services And USAA Sign RDC Patent Licensing Agreement

SAN ANTONIO – USAA and Discover Financial Services have entered into an agreement that provides Discover a license to more than 130 USAA patents covering remote deposit capture (RDC) technology, giving Discover the right to continue offering its customers the convenience of easily depositing checks with their mobile device.

“USAA is proud of our record of innovation, including remote deposit capture technology that has made banking easier for our members,” said Nathan McKinley, USAA vice president and head of Corporate Development. “And under the licensing agreement, we’re pleased that Discover customers will benefit as well.”

With multiple RDC license agreements in place, banks have begun to acknowledge USAA’s patent rights. “We look forward to working with more banks to create reasonable licensing agreements that benefit their customers,” McKinley added.

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking, and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 37,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.