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NCR Supports Small Businesses Amid Coronavirus-led Crisis
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NCR Corporation is diligently supporting various businesses to manage disruptions due to the coronavirus pandemic. For instance, it is supporting restaurants by reoptimizing restaurant layout to improve takeout and curb side operations.
Moreover, the company recently collaborated with NYMBUS, in an effort to facilitate small businesses with access to Small Business Administration (SBA) Paycheck Protection loans, via the NYMBUS SmartLoans platform, in the wake of the coronavirus-induced disruptions.
Notably, the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was passed into law on Mar 27, includes the Paycheck Protection Program (PPP), which provides cash-flow assistance through fully-federal guaranteed loans to small businesses (under 500 employees) who maintain their payroll during this crisis. This is a big help for these businesses, in order to tide over the economic adversities resulting from the pandemic.
NYMBUS SmartLoans enables any SBA-approved bank in the United States to quickly apply SBA on behalf of their customers without the overhead expenses generally involved. NCR’s digital banking solutions, along with NYMBUS’ platform, will bring borrowers and lenders together at a faster pace.
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 these technologies to maintain customer satisfaction.
Higher investment in Digital Banking solutions is benefiting NCR. Notably, it has received a positive feedback from customers on the new features and functionality. The company has also begun witnessing higher growth.
Last July, NCR acquired D3 Technology, which is boosting the company’s Digital Banking Solutions segment.
Again, last October, released its self-service device management solution — Vision SaaS — to provide banks or credit unions transparency and control over their ATMs.
However, growing competition from companies like Diebold (DBD) and Fidelity makes us cautious about the segment’s near-term performance.
Nonetheless, the coronavirus outbreak, which has forced most of the world into a lockdown, is driving the adoption of digital banking, which bodes well for NCR. We believe NCR’s continued efforts to strengthen this segment will continue to drive the company’s top-line growth.
Zacks Rank and Key Picks
NCR currently carries a Zacks Rank #5 (Strong Sell).
The long-term earnings growth rate for Advanced Semiconductor, CACI and QUALCOMM is currently pegged at 3.03%, 11.13% and 18.94%, respectively.
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NCR Supports Small Businesses Amid Coronavirus-led Crisis
NCR Corporation is diligently supporting various businesses to manage disruptions due to the coronavirus pandemic. For instance, it is supporting restaurants by reoptimizing restaurant layout to improve takeout and curb side operations.
Moreover, the company recently collaborated with NYMBUS, in an effort to facilitate small businesses with access to Small Business Administration (SBA) Paycheck Protection loans, via the NYMBUS SmartLoans platform, in the wake of the coronavirus-induced disruptions.
Notably, the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was passed into law on Mar 27, includes the Paycheck Protection Program (PPP), which provides cash-flow assistance through fully-federal guaranteed loans to small businesses (under 500 employees) who maintain their payroll during this crisis. This is a big help for these businesses, in order to tide over the economic adversities resulting from the pandemic.
NYMBUS SmartLoans enables any SBA-approved bank in the United States to quickly apply SBA on behalf of their customers without the overhead expenses generally involved. NCR’s digital banking solutions, along with NYMBUS’ platform, will bring borrowers and lenders together at a faster pace.
The association between NCR and NYMBUS is not new. Last October, NYMBUS licensed NCR’s D3 Digital Banking platform to provide comprehensive digital interactions in conjunction with its SmartEcosystem banking solutions.
NCR Corporation Price and Consensus
NCR Corporation price-consensus-chart | NCR Corporation Quote
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 these technologies to maintain customer satisfaction.
Higher investment in Digital Banking solutions is benefiting NCR. Notably, it has received a positive feedback from customers on the new features and functionality. The company has also begun witnessing higher growth.
Last July, NCR acquired D3 Technology, which is boosting the company’s Digital Banking Solutions segment.
Again, last October, released its self-service device management solution — Vision SaaS — to provide banks or credit unions transparency and control over their ATMs.
However, growing competition from companies like Diebold (DBD) and Fidelity makes us cautious about the segment’s near-term performance.
Nonetheless, the coronavirus outbreak, which has forced most of the world into a lockdown, is driving the adoption of digital banking, which bodes well for NCR. We believe NCR’s continued efforts to strengthen this segment will continue to drive the company’s top-line growth.
Zacks Rank and Key Picks
NCR currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader technology sector are Advanced Semiconductor Engineering, Inc. (ASX - Free Report) , CACI International, Inc. (CACI - Free Report) , and QUALCOMM Incorporated (QCOM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Advanced Semiconductor, CACI and QUALCOMM is currently pegged at 3.03%, 11.13% and 18.94%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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