NCR Company (NYSE: NCR), a leading software and technology provider that operates financial institutions’ self-directed banking, today announced the acquisition of Terafina, a leading provider of customer account opening and onboarding solutions across digital, branch and call center networks.
On its industry-leading Digital First Banking network, Terafina extends NCR sales and marketing capabilities to accelerate revenue growth through customer and business market segments. Integrating the onboarding experience of the user into the NCR Digital First platform would drive greater client satisfaction and increase the amount of items opened by a customer. This combination helps financial institutions to establish deeper relationships with consumers, enhance brand loyalty and entertain customers in their digital and physical relationships.
“Digital Banking is a key aspect of the NCR-as-a-Service strategy we laid out at Investor Day in December,” said Michael D. Hayford, president and chief executive officer, NCR Corporation. “Terafina has been a partner of ours and is already up and running, integrated with our Digital Banking platform. We know this adds value for our clients by making digital account sales, marketing and onboarding easier, so they can provide a superior experience for customers.”
“We are very excited to combine with NCR’s Digital Banking business, which we believe is one of the largest and clearly one of the leading innovators in the marketplace,” said Meheriar Hasan, Founder & CEO, Terafina. “Terafina is looking forward to take what we’ve built and see it grow together with NCR.”
Terafina’s acquisition is consistent with the strategy of NCR to acquire early stage tech companies to develop product capabilities and strengthen NCR leadership in the vertical industries served by NCR.Financial terms of the transaction were not disclosed.
This recent acquisition by NCR is one of three acquisition accouchements following the recent Cardtronics announcement and D3 Banking technonlogies announcement. As the banking and payments industry continues to evolve we expect to see more acquisitions like these take place and organizations looks for innovate ways to keep up with the changing market.