Online banking represented a sea change in the banking industry after Congress passed new laws in allowing lenders to handle more checks electronically — much like the ATM did when the first one was installed in London in Mobile deposit, which came along a few years later, has been quickly adopted by consumers as more people use mobile apps and websites to conduct financial transactions.

Consumers wrote about Financial services research and consulting firm Celent projected that about a third of all checks were deposited electronically in and about half were last year. So far it is unclear what impact this might have on the industry. Several banks that were contacted either declined to comment, or did not respond. But if USAA is able to convince or cajole the industry into paying, it could be a windfall depending on how the fees are structured.

And we have never received fair value for it in the marketplace. USAA, which serves members of the military and their families, has about 50 patents associated with the technology, according to Hudson. The licensing fee is purely for use of the intellectual property, not for technical support, Hudson said. So no technical integration is required. USAA is no stranger to controversy around its remote deposit capture technology: In Marchit accused San Diego, California, software company Mitek Systems Inc.

The two companies later said in they had settled their disputejust five days before it was slated to go to trial in federal court in San Antonio. How is this ever going to work?

It seemed like there were a lot of problems, a lot of barriers, so how do we go from this early prototype to something that was scalable? But active-duty soldiers in far-flung places of the world with little access to traditional banks needed to be able to deposit checks from anywhere, Brady said.

He wanted the concept to be deployed in a live production environment in a month, Brady said. Some of the things the team figured out during that time were how to locate a check on the scanner bed, crop the check and process the images, Brady said. Home sales up in May, but buyers face sharply rising prices. Tyson adopting video, welfare checks in poultry operations.

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USAA seeks licensing fee from banks for electronic deposit technology - San Antonio Express-News

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Single-family homes just listed for sale in San Antonio. City Wide Open House. San Antonio homes for rent. USAA seeks licensing fee from banks for electronic deposit technology By Samantha Ehlinger, Staff Writer Updated 6: Image 1 of 1. USAA has sent out hundreds of letters seeking licensing fees for the intellectual property used to develop electronic deposit across the industry.

USAA seeks licensing fee from banks for electronic deposit technology.

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How to Deposit a Check Online (with Pictures) - wikiHow

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