Secure Axcess, an Internet security technology company, has settled a patent infringement lawsuit with six banks and a credit union.
The financial institutions have licensed Secure Axcess's eponymous identity and access management technology, the Prism Technologies unit said Monday. Secure Axcess's technology relates to the use of a security image for authentication, which is meant to protect online customers from phishing and other forms of fraud.
The companies that agreed to the settlement are: the $95.2 billion-asset Harris Bank in Chicago, which was
Bank of America (BAC), BBVA Compass, ING Bank and 11 other financial institutions remain as defendants in the case.
Secure Axcess is being represented by Nix, Patterson & Roach, the Texas law firm that represented check-processing company
The patent infringement case was filed in the Tyler Division of the U.S. District Court for the Eastern District of Texas.