NCR Corporation (NCR - Free Report) recently released its self-service device management solution, Vision SaaS, to provide banks or credit unions transparency and control over their ATMs. This shift to SaaS (software-as-a-service) model makes NCR a hosted software solution.
The Vision SaaS aims to improve availability, security and compliance. Also it seeks to ensure better consumer experience and business performance among client financial institutions.
Reportedly, the new solution is gaining fast traction, with already more than 10 North American and European customers in its kitty. Another new customer expects to save more than 20% cost in five years compared to on-premise deployment of digital solutions.
Digital Banking Drives Growth
The quickly promulgating digital-first approach among customers calls for constant innovations on self-service channels of financial institutions. Banks are focusing on as-a-Service models to maintain and drive constant innovations through self-service channels.
NCR provides cost-efficient and smart management of those technologies to maintain customer satisfaction.
Higher investment in NCR's Digital Banking solutions is proving beneficial for the company. Notably, it has received a positive feedback from customers on the new features and functionality. The company has also begun witnessing higher growth.
In July, NCR acquired D3 Technology, which is likely to boost the Digital Banking Solutions segment.
Also, in June this year, NCR entered into a partnership with digital receipt and data provider, Sensibill, to develop a solution for bank customers to store, organize and manage their receipts.
In the same month, the company bought the minority interest in NCR Manaus, owned by Banco Bradesco, in a bid to widen its service portfolio to financial customers in Brazil.
We believe that NCR’s continued efforts to strengthen this segment will continue to drive the company’s top-line growth.
Zacks Rank & Other Stocks to Consider
NCR currently carries a Zacks Rank of #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Five9, Inc. (FIVN - Free Report) , Paylocity Holding Corporation (PCTY - Free Report) and Model N, Inc. (MODN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Five9, Paylocity and Model N is currently pegged at 10%, 20% and 13%, respectively.
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