20 September 2017
visit www.avoka.com

NCR takes stake in video banking firm uGenius

31 January 2012  |  4670 views  |  0 ABN Amro ATM 2

ATM manufacturer NCR has taken a minority equity stake in Utah-based video banking outfit uGenius. Terms of the investment were not disclosed.

The investment follows a collaboration between the two firms in 2011 to develop NCR's Aptra Interactive Teller, which uses uGenius' video banking technology to give consumers a choice to conduct transactions with the assistance of a live, remote video teller.

NCR senior vice president Michael O'Laughlin claims "significant interest" from financial institutions in the Aptra machine, although the company has yet to confirm any sales.

For NCR, the investment buys a stake in a near-future in which banks look to cap the expense of running costly branch networks by 'beaming in' remote staff to handle customer transactions.

"In five years, bank and credit union branches will look nothing like they do today," says O'Laughlin. "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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BMO expands retail video conferencing service

BMO expands retail video conferencing service

18 January 2012  |  5536 views  |  0 comments
NCR, PayPal and S1 offer P2P payments through ATMs

NCR, PayPal and S1 offer P2P payments through ATMs

12 October 2011  |  9757 views  |  1 comments
BofA pilots video conferencing for wealth advice

BofA pilots video conferencing for wealth advice

11 February 2011  |  10466 views  |  0 comments
FirstOntario Credit Union turns ATMs into video channel

FirstOntario Credit Union turns ATMs into video channel

04 June 2010  |  7465 views  |  0 comments
HSBC rolls out online video consultations

HSBC rolls out online video consultations

01 June 2010  |  10924 views  |  1 comments

Related company news

 

Related company information

NCR

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comvisit www.vasco.comvisit www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10525 views comments | 23 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10305 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9143 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7619 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7479 views comments | 14 tweets | 15 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job