NCR Corp. (NCR - Free Report) has achieved recognition for its SelfServ solutions aimed toward the financial sector. The ace Automated Teller Machine (ATM) solution provider announced that its ATM as well as Branch Transformation Solutions have recommended by the American Bankers Association (ABA) to its member banks.
Founded in 1875, the ABA is a professional association representing both small and large-scale U.S. banks. The idea behind this association was to secure the political interests of the banking industry and to help the member banks in achieving business excellence and cost reduction.
After evaluating the success rate of NCR’s ATM and other banking solutions, the ABA agreed to approve the solutions for its members. ABA expects its members to benefit from the adoption of the solutions. These will improve operational efficiency, curb expenses and expand their business and at the same ensure a superior self-service experience for the end customers.
The endorsement will allow NCR to gain a wide platform as more banks will opt for its banking solutions. Apart from the importance of endorsement, the discounted rate for the NCR solutions will attract financial institutions. NCR’s most sought-after products such as SelfServ ATMs, Intelligent Deposit ATMs, APTRA Interactive Teller, APTRA Vision, Solidcore Suite for APTRA, Teller Cash Recycler will be available at an attractive rate for the members of ABA.
We believe that NCR’s commitment to protect the integrity of the ATM channel and offer more benefits at a lower cost has been inspiring banks and a host of other financial institutions to choose its services. Last week, the company acquired cash cost optimization software company Transoft International Inc. This will solidify NCR’s position in the ATM space as cash management is one of the most important aspects of ATM technology.
We remain highly positive about NCR’s broad-based exposure in the ATM space. 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.
Stiff competition from Diebold Inc. (DBD - Free Report) and Wincor Nixdorf in the ATM market keeps us concerned.
Currently, NCR has a Zacks #3 Rank, implying a short-term Hold rating.