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NCR Corp. (NCR - Analyst Report) recently announced that its APTRA Passport software has been deployed by SunTrust Banks Inc. (STI - Analyst Report) and two credit unions, under two separate deals. Financial details of both the deals were kept confidential.

A bellwether banking institution, SunTrust Bank opted for the NCR APTRA Passport to make the task of depositing checks from remote areas easy. The APTRA Passport solution will work through a multichannel remote deposit capture (RDC) hub, located at the bank branches.

The RDC hub will support all service channels and accept checks from customers via multiple channels directly to back-office processing centers. The bank can now process a scanned copy of the check sent by customers via remote branches, ATMs and mobile phones.

Anheuser-Busch Employees' Credit Union (ABECU) and American Eagle Credit Union (AECU) also deployed the NCR APTRA Passport to make check deposit hassle-free for its members. The solution will work in association with NCR’s mobile banking solution. Leveraging the app, members will be allowed to scan the check via mobile phones and send it to the credit unions for processing. The credit unions will then receive the image through the RDC hub.

With APTRA Passport, financial institutions will be able to connect with their customers from a remote location at any hour of the day. This will enhance customer/member experience and also reduce operating costs and staff occupancy. Hence, the solution could be used as a means for growing business at a lower cost.

Packed with innovative solutions and services (ATMs, self-servs, mobile banking solutions, payment and imaging solutions, banking software), NCR is doing very well in its Financial Services segment. Last quarter, NCR generated 7.0% year over year revenue growth within the segment, which was the most important driver of overall results, as other segments lacked luster.

We remain positive about NCR’s deal wins from various industrial sectors. But a high debt burden, European exposure and stiff competition from Diebold (DBD - Snapshot Report) and Wincor Nixdorf in the ATM market keep us concerned.

Currently, NCR has a Zacks #4 Rank (short-term Sell rating), reflecting the impact of the charge under the Foreign Corrupt Practices Act.

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