The world’s leading consumer transaction technology provider, NCR Corporation (NCR) is gaining new opportunities from the continuously changing concepts of traditional banking services. The company recently announced that two banks – one in North America and the other in the Middle East are using its banking solutions.
In North America, the Sacramento, CA-based Golden Pacific Bank is launching mobile remote deposit capture using Digital Insight’s (a wholly-owned subsidiary of NCR Corporation) mobile banking solutions. The technology will facilitate Golden Pacific’s customers to deposit checks from anywhere using their mobile banking application and the phone camera.
Per the bank, customers will have to choose “deposit check” option on its mobile app which will further direct them to take pictures of the front and back of the check. These images will be sent for processing after the value of the check has been confirmed. However, the original check will have to be kept for 14 days for record purposes.
Digital Insight is a provider of online banking solutions which are intended to enhance customer experience across mobile, bill pay and online banking channels. With the addition of mobile remote deposit services, Golden Pacific will now be able to provide a complete range of core banking functions powered by Digital Insight. This will strengthen the bank’s relationship with existing customers and help it acquire new ones.
Separately, NCR Corporation announced that the fastest growing bank in Kuwait, Boubyan Bank, is now using its NCR Interactive Teller solutions to launch the country’s first “Mini Bank” concept. The Mini Bank concept will facilitate Boubyan Bank to expand its footprint in locations where a full-service branch is not financially viable.
The bank opened the first Mini Bank at the Kuwait International Airport in November. Moreover, it intends to open more such Mini Banks powered by NCR Interactive Teller technology at other prime locations in the country.
NCR Interactive Teller is an ATM-based technology that allows customers to complete their ATM tasks including cash deposit and withdrawal, transfer between accounts and check acceptance without a card either manually or through voice commands.
We believe that NCR Corporation’s growth in ATM and self-service kiosk spaces is encouraging, given the tremendous growth prospects in these markets. Continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are other catalysts. We consider that NCR Corporation’s commitment to protect the trust and integrity of the ATM channel has been inspiring banks and a host of other financial institutions to choose its services.
However, similar offerings from the likes of Diebold Corp. (DBD) and International Business Machines Corp. (IBM) could create some pressure.
Currently, NCR has a Zacks Rank #4 (Sell). Alternatively, investors may consider Micron Technology (MU), a better-ranked technology stock sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment