Source: Ronald A. Katz Technology Licensing
Ronald A. Katz Technology Licensing, L.P. announced today that, as a part of the settlement of patent litigation, Navy Federal Credit Union, the world's largest credit union, based in Merrifield, Virginia, purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing, L.P. and licensed through its affiliate, A2D, L.P.
The nonexclusive license covers services offered by Navy Federal Credit Union in the "Financial Services Call Processing" Field of Use including customer service delivered through automated systems and live agents. Other terms of the license were not disclosed.
The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll free and local numbers.
Ronald A. Katz stated, "We welcome Navy Federal Credit Union to the large and diverse group of financial services companies who have purchased license rights under this portfolio."