ATLANTA – An Internet security company called JOAO Bock Transaction Systems, LLC on Wednesday filed a patent infringement suit against Georgia’s Own CU, the latest in a proliferating number of patent claims targeting credit unions, banks and other financial service providers.

The New York company, which also sued The Bank of Georgia yesterday, claims Georgia’s Own CU infringes on its patents for systems providing online security for online banking and online bill payment services. Specifically, the company claims Georgia’s Own’s online bill payment service uses a processor which processes a signal which contains information corresponding to a transaction on an account owner’s electronic money account.

The credit union’s online bill pay service also uses a transmitter and/or a receiver, which transmits and/or receives a signal for notifying the account owner of a transaction on the account, JOAO Bock alleged.

In its suit, filed in the U.S. District Court for the Northern District of Georgia, JOAO Bock claims its patents cover those processes. The suit asks the court for a permanent injunction and for damages to be assessed against Georgia’s Own.

The company also has filed patent suits against Hamilton State Bank, United Community Bank, Charles Schwab, Scottrade, Optionshouse LLC and Jack Henry & Associates, which the company lost.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.