NCR Corp. announced today it has purchased uGenius Technology Inc., a Utah-based provider of video banking software that enables users to interact remotely with a live teller.
The acquisition comes after two years of business partnering between the companies. In 2011, NCR and uGenius collaborated to build an ATM that lets consumers talk and bank with a live teller, and in January 2012 NCR acquired a minority stake in uGenius.
NCR anticipates that it will begin pilots for APTRA Interactive Teller with multiple top 10 U.S. banks in the first half of 2013. NCR also expects to leverage other uGenius technologies such as SmartOffice and Online Video Banking to expand the delivery of video banking to multichannel solutions across NCR Financial Services and other industry verticals.
Peter Leav, executive vice president of NCR, said he expects video banking to gain momentum in 2013 due to its ability to help financial institutions grow revenues while at the same time reducing costs.
"Through our development work with uGenius and the resulting purchases and pilots by banks and credit unions, we have definitively placed NCR in front of all other technology companies in this area," Leav said. "By acquiring uGenius, we are delivering against our corporate strategy of innovating for our customers and reinventing NCR as a software-driven business, while allowing us to enhance existing technology platforms and create a new segment of remote assisted service."
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