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San Diego’s Mitek Systems, a maker of mobile check deposit and identity verification technology for financial services firms, has acquired a biometrics startup in a stock and cash transaction valued at $49 million.
The acquisition of New York-based ID R&D gives Mitek face- and voice-based identification capabilities to integrate into its Mobile Verify, Mobile Deposit and other apps.
The two companies already had been working together for a couple of years, said Sanjay Gupta, Mitek’s vice president of product and corporate development. ID R&D’s technology helps Mitek determine “liveness” in selfie photos submitted as part of the Mobile Verify process pinpointing whether a submitted selfie is real or a photo-of-a-photo from a fraudster.
With $150M Capital Infusion, Jumio Could Go Public
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A run-through of what Meridianbet casino has to offer
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Wells Fargo and USAA to settle $300m litigation
18-02-2021
25-08-2016
Wells Fargo has reached a settlement in a pair of lawsuits brought by the US Automobile Association (USAA), after two juries found the bank liable for patent infringement.
USAA filed two separate lawsuits against Wells Fargo at the US District Court for the Eastern District of Texas for infringing patents covering mobile deposit technologies.
In both cases, juries at the Texas court found Wells Fargo liable to have USAA’s IP, and the bank was found to be liable to pay a total of $300 million.
Documents filed at the court reveal that the bank and USAA have agreed to settle both cases, with the terms of the agreements undisclosed. The parties have asked the court to stay the case for 60 days so they can finalise the settlement.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Oak Ridge Financial Services, Inc. Announces 2020 Results and Quarterly Cash Dividend of $0.06 .
Oak Ridge Financial ServicesFebruary 3, 2021 GMT
OAK RIDGE, N.C., Feb. 03, 2021 (GLOBE NEWSWIRE) Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the fourth quarter and full year of 2020, and a quarterly cash dividend of $0.06 per share.
Fourth Quarter and Full Year 2020 Highlights
Earnings per share of $1.23 for 2020, down 39 cents, or 24%, from 2019; earnings per share of $0.38 for the three months ended December 31, 2020, down one cent, or 3%, from 2019;