First Citizens Bank And USAA Sign RDC Patent Licensing Agreement

SAN ANTONIO – USAA and First Citizens Bank have entered into an agreement that provides First Citizens Bank a license to USAA patents covering remote deposit capture (RDC) technology. Under the license, First Citizens Bank may continue offering its customers the convenience of easily depositing checks with their mobile device.

“USAA is proud of our record of innovation, including its creation of remote deposit capture technology,” said Nathan McKinley, USAA vice president and head of Corporate Development. “And under the licensing agreement, we’re pleased that First Citizens Bank customers will benefit as well.” The First Citizens license is the latest RDC license agreement that USAA has reached with an expanding list of banks and credit unions. “Banks are acknowledging USAA’s patent rights,” McKinley added. “Our licensing team is working directly with banks and credit unions to create reasonable licensing agreements that benefit their customers.”

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves more than 13.5 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.

About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.