Metro Bank faces legal battle over coin-counting software
Metro Bank is reportedly facing a legal battle in the High Court, following claims by a US software company that it leaked its software to a rival firm.
US software company Arkeyo, which is suing for damages, claimed that it created the software for Metro’s “magic money machines” more than a decade ago before it was given to competitor Saggezza, The Telegraph first reported.
Metro’s coin-counting machines, which remain in all bank branches, are designed for children to add up small change.
Arkeyo claims that Saggezza asked Metro for a touch screen computer with access to Arkeyo’s software.
The court filings allege that in March 2016, Metro offered Saggezza with the touchscreen computer containing Arkeyo’s software.
Arkeyo, which first launched a civil case in the US in 2017, has been looking to launch the US proceedings in a UK court in the years since.
In a statement, Metro Bank has previously said: “Metro Bank believes Arkeyo’s claims are without merit. Metro Bank is vigorously defending the claims and intends to challenge jurisdiction, venue, service and avail of other procedural grounds for dismissal of the suit.”