The world’s leading consumer transaction technology provider, NCR Corporation (NCR) recently announced that it is expanding its APTRA Connections software features at its SelfServ 22e automated teller machine (ATM) for Taiwan-based Cathay United Bank’s personalized ATM transactions. Per the company, this is the second phase of APTRA Connections software.
The enhanced features like more bill payment options such as life insurance loan and payment, QR Code scanning, donation and auctions, will be available on the newly purchased NCR-branded ATMs and units from two other vendors.
In March, this year, NCR launched the first phase of APTRA Connections software in Taiwan in partnership with a renowned Taiwanese information technology reseller, Pershing Systems Corporation. In an exclusive agreement with Cathay United, NCR authorized the bank to run APTRA Connections software on NCR SelfServ ATMs and units from another vendor.
In the first phase, APTRA Connections facilitated Cathay United to recognize customers and display a personalized greeting. Apart from this, the bank’s customers were able to customize their ATM menu by pre-selecting preferred transaction options such as cash withdrawal amount, bank transfers and bill payments, thereby saving time.
The rapid development in technology has turned ATM kiosks into complete self-service terminals. We believe that NCR Corporation’s growth in ATM and self-service kiosk spaces is encouraging, given the tremendous growth prospects in these markets.
Continued product launches, growing popularity of its self-service offerings and synergies from acquisitions are the other catalysts. We consider that NCR Corporation’s commitment to protect the trust and integrity of ATM channels has been inspiring banks and a host of other financial institutions to opt for its services.
However, similar offerings from Diebold Corp. (DBD) and International Business Machines Corp. (IBM) could intensify competition.
Currently, NCR has a Zacks Rank #3 (Hold). Alternatively, investors may consider FARO Technologies Inc. (FARO), a better-ranked technology stock sporting a Zacks Rank #1 (Strong Buy).
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