JP Morgan Chase is being pursued by an Australian software house and copyright protection firm for loyalties associated with the use of technology for speeding up database management and payment processing systems.
Victoria-based Financial Systems Technology, supported by intellectual property commercialisation company QPSX, is suing JP Morgan Chase for breach of contract, copyright infringement and misappropriation of intellectual property rights.
FST's transactional services and content biling software is used by major New York money centre banks to perform pricing, costing and billing for their wholesale and corporate payments services.
The suit follows a global licensing programme initiated by QPSX in April, relating to the use of FST-developed enterprise data management (EDM) technologies. These encompass relational database management systems and database management systems, including mission critical online transaction processing databases and datawarehousing implementations.
At the time, QPSX said its pursuit of licensing revenues would focus on users of large, mission critical EDM systems such as financial institutions, as well as leading EDM vendors such as Oracle, IBM and Microsoft.
QPSX says the technology contained in its EDM portfolio generally forms part of the central data processing functions of a system and has the ability to increase the speed and efficiency of a database management system.