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NCR Corp. (NCR - Analyst Report) will provide its latest SelfServ Automated Teller Machines (ATM) to a North Texas-based financial institution LegacyTexas Bank. Financial details of the deal were not divulged.
The bank will deploy 26 ATMs in 20 locations. The new self-serv ATMs feature Scalable Deposit Module (SDM) technology, which allows simultaneous cash and check deposit in any orientation through a single slot, doubling the speed of ATM transactions.
Per the deal, NCR Corp. will also provide support to ensure network availability, proactively fix break-down issues and secure ATM transactions. With the integrated ATM solutions from NCR Corp., LegacyTexas bank will be able to improve customer satisfaction as well as better focus on business growth and profitability.
We remain highly positive on NCR Corp.’s ATM footprint. According to a study published by Retail Banking Research, NCR has been the world's largest supplier of multi-vendor ATM middleware and applications for 25 consecutive years. We believe that NCR Corp.’s commitment to protect the trust and integrity of the ATM channel has been inspiring banks and a host of other financial institutions to choose its services.
In February, the largest retail bank in South Africa Absa Group Limited opted for NCR Corp.’s integrated ATM solutions for overhauling its entire ATM network across South Africa over a three-year period.
We are also encouraged by the company’s association with leading banks, such as Barclays Bank plc (BCS - Snapshot Report) and UniCredit Bank, which have upgraded their ATMs with advanced NCR banking solutions.
Though NCR Corp. faces stiff competition from Diebold Inc. (DBD - Snapshot Report) and Wincor Nixdorf in the ATM market, we are positive about the company’s dominance, successful acquisitions, product introductions and continued customer wins.
Currently, NCR Corp. has a Zacks #1 Rank, which translates into a short-term Strong Buy rating.
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