U.S. Bank has joined Open Invention Network (OIN), the organization formed to safeguard open source software and the largest patent non-aggression community in history. U.S. Bank joins a list of financial institutions and Fintech providers that have joined the OIN community that include Ally Financial, The Clearing House, Barclays, TD Bank, RBC, Truist, Alipay, Block and Sumitomo Mitsui, among many others.
U.S. Bank is the largest regional bank in the United States by assets and an industry leader in creating innovative solutions to serve customers. Joining OIN signals the bank’s continued support of cooperative technology development, as it uses open source software to advance the digital experiences available to customers that help them in their financial lives.
“We have an unrelenting focus to put customers at the center of what we do,” said Don Relyea, chief innovation officer at U.S. Bank. “Incorporating open source software is one of the ways we implement the best technologies in our systems to deliver services and experiences that our customers value and trust. At U.S. Bank, we are committed to technology innovation, and we are proud to join the Open Invention Network and support its role in protecting open source software.”
As a community, OIN members practice patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by Open Invention Network are similarly licensed royalty-free to any organization that agrees not to assert its patents against the Linux System.
“In financial services, digital innovators increasingly rely on open source technologies for building and integrating feature-rich platforms,” said Keith Bergelt, CEO of Open Invention Network. “As one of the largest U.S. banks, and a leading developer and investor in Fintech, we are pleased that U.S. Bank is committed to patent non-aggression in core Linux and adjacent open source technologies.”