USAA gives development rights to Persistent Systems
USAA, a provider of banking and insurance services to the US military personnel and their families, has granted intellectual property (IP) rights to Persistent Systems for the development of its banking tech.
Through this agreement, India-based Persistent will look and attempt to extend USAA’s technologies to identify and verify members.
Persistent says it will focus on authentication and security solutions based on concepts such as micro-trust, risk-aware, contextual, and personalisation in conjunction with technologies related to biometrics, risk modelling and dynamic proofing.
Gary McAlum, USAA’s chief security officer, says with the deal it can “see patented innovations we use today developed into products that can benefit others in the financial sector”.
In 2016 there were a number of other developments for USAA.
It launched a virtual assistant for its website. The solution is based on the Nina artificial intelligence (AI) technology, supplied by Nuance Communications.
USAA also partnered with Coinbase to give Bitcoin usage a timely boost. Following a successful pilot, all account holders are now able to view their Coinbase accounts alongside the rest of their USAA accounts and financial services on the website.