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After reaching a 52-week high on May 3, NCR Corporation (NCR - Analyst Report) has won a couple of new deals, which are expected to be favorable for its share price. This time NCR has won a deal from the Barclays Bank of Ghana. According to the deal, the bank will take support from NCR and provide its customers 24-hour access to its financial services.
The bank has recently installed 29 NCR SelfServ and 34 ATMs with intelligent deposit, which would ultimately help Barclays’ customers to deposit cash and get an on-screen validation immediately. Moreover, these ATMs would help in bill payment and provide a remittance software support, using which the customers can pay a bill or transfer funds to friends and family.
NCR has won another deal from the ANZ bank of New Zealand. ANZ Bank New Zealand has started deploying the next-generation teller cash recycler (TCR) to provide a better banking experience to its customers. The NCR Cash Recycler 11 quickly accepts and dispenses cash, which ultimately helps the tellers, allowing them to focus their attention on the customer rather than counting bank notes.
NCR is gradually expanding its reach across geographies. Moreover, NCR’s position in the ATM and self-service kiosk segment, coupled with new offerings at regular intervals, are helping the company strengthen its market position.
NCR’s products are helping it to win new deals at regular intervals. NCR’s products offer an array of benefits to end users and customers. This helps companies improve customer experience and increase their business efficiencies. This apart, NCR is reaping the benefits of the ATM upgrade cycle, not only in the U.S., but also in other countries such as India, China and Brazil.
Previously, the company secured a large deal from “State Bank of India” (“SBI”) to deploy roughly 600 NCR SelfServ 32 Intelligent Cash Deposit ATMs across India. This is one of the largest orders made by the State Bank of India for its cash deposit ATMs in recent times.
Moreover, RBR Research and the ATM industry association believe that the global ATM space will likely grow at a rapid rate, especially cash withdrawal services in emerging markets. The report suggests that ATM cash withdrawals will grow by 90.0%.
The under-penetrated markets of the Asia-Pacific, the Middle East and Africa are deemed to see the strongest growth. Thus, the company is making strategic moves to generate more business from these markets.
Back home, the ATM and POS market is in duopoly, with NCR the largest player and Diebold Corp. (DBD - Snapshot Report) a strong second.
Currently, NCR has a Zacks Rank #2 (Buy). Investors could also consider other technology stocks such as Orbotech Ltd. (ORBK - Snapshot Report) and Concurrent New. , both with a Zacks Rank #1 (Strong Buy).