Technology solutions provider NCR Corp. (NCR) recently unveiled the latest iteration of its APTRA Cash Connect software.
APTRA Cash Connect software offers both online or offline connectivity to Teller Automation Units (TAU) such as cash recyclers, cash dispensers and coin dispensers. More than 700 banks in more than 40 countries around the world run APTRA Cash Connect, making it the most popular TAU software globally.
The recent 6.0 version of the software enables financial institutions and employees to use, monitor and integrate multi-vendor automation units, such as teller cash recyclers.
This will be facilitated by the Microsoft SQL Server Express database that enables consolidated branch-wide data and reporting capabilities. The system also features a new Java-based teller interface that has been modified and customized to provide the most intuitive experience for the bank teller. These enhancements can help cut transaction times by an estimated average of 30 seconds for withdrawals and two minutes for deposits.
The reduction in per head transaction time would free up executives to spend more time with customers, generating more contacts as well as prospective leads.
NCR Corp. also unveiled a technology that allows customers to have a live video chat with remote bank tellers, directly from the ATM. Using technology from uGenius Technology, a Utah-based pioneer in video banking solutions, NCR has integrated a two-way video conferencing into its multi-function NCR SelfServ 32 ATM. The new solution gives an option to the customer to enable remote interaction with a teller at any time of the day or night, dealing with customer queries and not just cash withdrawal.
In today’s highly competitive environment, leading financial institutions are striving to enhance their customer interactions, reduce costs, as well as improve effectiveness and efficiency of their self-service channels. We believe that NCR Corp.’s vast range of financial services offerings will provide the required support to financial institutions.
In the recently concluded first quarter, Financial Services revenue was up 3.0% year over year, with good performance across key regions including BICMEA (Brazil, India, China, Middle East and Africa) and CLA (Caribbean Latin America). We see these new solutions boosting revenue contribution, since they are likely to be adopted widely.
We are encouraged by the company’s market leadership, successful acquisitions, product introductions and continued customer wins. However, we believe that near-term visibility is limited, as the company faces competition from IBM Inc. (IBM) and Hewlett-Packard Co. (HPQ) in the retail vertical. Moreover, uncertainty in its entertainment business also poses some threat.
Currently, NCR Corp. has a Zacks #3 Rank, which translates into a short-term Hold recommendation.
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