NCR Corp. (NCR) recently signed an agreement to supply its mobile banking solution to Bellwether Community Credit Union (BCCU). BCCU will deploy NCR Corp.’s APTRA Mobile Banking solution in its branches throughout New Hampshire. Financial terms were not disclosed.
As a non-profit credit union, Manchester-based BCCU will be the first financial institution to offer a mobile banking facility to its more than 26,000 members. BCCU is not a stranger to NCR. The credit union has already deployed the NCR’s APTRA Online Banking and APTRA eMarketing solutions.
Leveraging these two solutions, BCCU offered its members a protected online banking experience. Moreover, BCCU made banking operations easier by delivering personalized and relevant marketing messages to its members through their preferred channels (whether mobile phone or online).
Now onward, with the help of NCR Corp.’s APTRA Mobile Banking solution, BCCU will be able to add mobility to banking operations. Mobile banking operations will help customers check their balance, make credit applications and also carry out other banking transactions.
As per a recent survey conducted by NCR Corp., 79% of U.S. customers and 26% of global customers choose financial institutions based on their mobile banking services. We believe that BCCU‘s success in drawing more customers based on the new mobile banking services will likely drive demand for NCR Corp.’s products.
Apart from this, we are encouraged by NCR Corp.’s Automated Teller Machine (ATM) exposure. Recently, the tech company upgraded its ATM technology with the introduction of SelfServ 16, which is equipped with bank-grade ATM features.
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 stiff competition from Accenture plc (ACN). Moreover, uncertainty in its entertainment business also increases risks.
Currently, NCR Corp. has a Zacks #3 Rank, which translates into a short-term Hold recommendation.
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