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NCR Makes Strategic Investment in uGenius Technology

Mercator Advisory Group by Mercator Advisory Group
January 31, 2012
in Analysts Coverage
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NCR today announced a strategic investment in uGenius Technology, LLC, a Utah-based pioneer in video banking solutions. NCR has taken a minority equity stake in the company. In 2011, NCR and uGenius collaborated to build the first ATM that lets consumers talk and bank with a live, remote teller, which will let bank branches stay open longer and offer more services to their customers. Terms of the investment were not disclosed.

“In five years, bank and credit union branches will look nothing like they do today. We are on the verge of a dramatic reshaping of the consumer experience in the branch. Technology will play a powerful role in making that environment better and more convenient for consumers, while becoming more cost effective for financial institutions,” said Michael O’Laughlin, senior vice president, NCR Financial Services. “We’ve already seen significant interest from financial institutions around our joint solution with uGenius, called the NCR APTRA® Interactive Teller, and this investment strengthens our relationship with them.”

NCR’s APTRA Interactive Teller is using uGenius’ video banking technology to give consumers a choice to conduct teller transactions with the assistance of a live, remote video teller. Or, they can use the NCR SelfServ solution for traditional ATM transactions.

The efficiency and security created through the centralization of tellers enables financial institutions to transform their branch locations into more effective service and sales environments. APTRA Interactive Teller lets financial institutions offer up to 24 hour access to teller services, build new small-footprint branches, and provide full teller services in areas not served by branches, all while taking advantage of the advanced features of NCR ATMs such as intelligent deposit, bill pay and new account or loan initiation.

This announcement highlights the importance of the ATM channel, and how it has evolved into a critical channel for financial institutions. Innovations such as intelligent deposit ATMs and remote video tellers open up new opportunities for FIs and customers alike, by melding high levels of customer service with enhanced operational efficiencies.

Further information on innovations in the ATM channel can be found in a recently published report by Mercator Advisory Group. The report, entitled “The Evolution of the ATM Banking Channel,” includes information on technological advancements and growth opportunities in the ATM channel.

Read full article: http://www.businesswire.com/news/hom…ius-Technology

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