USAA and Bank of America announced today that they have entered into a patent cross‑license agreement enabling the reciprocal use of each other’s patent portfolios.USAA and Bank of America each have a long history of innovation across a range of technologies, including artificial intelligence, machine learning, information security, and network infrastructure, as well as banking‑specific capabilities such as payment processing and mobile check deposit.The agreement underscores the importance of protecting innovation within the banking industry. It recognizes the contributions each company has made to advancing the industry, while enabling both to expand the solutions available to their customers.“Bank of America’s culture empowers our employees to explore and develop innovative solutions for individual and corporate clients. This is reflected in the size and ongoing growth of our patent portfolio,” said David Marx, Business Management and Controls Executive at Bank of America. “This agreement supports the application of innovations from Bank of America and USAA in ways that benefit our clients and contribute to continued progress across the financial services industry.”“For more than 100 years, USAA has been deeply committed to serving military members and their families, and we are continually seeking new ways to meet their unique needs,” said Mike Chaparro, Investments Principal at USAA. “The technologies we have developed have helped make banking more secure and convenient for our members and brings value to our membership through continued innovation. We look forward to working with other banks and credit unions to create mutually beneficial licensing agreements, just as we have done with Bank of America.”NoYesBanking10 Aug, 2026