NCR makes SaaS transformation, sees revenue spike

Automated teller machine (ATM) provider NCR Corporation remained steadfast in its software-as-a-service (SaaS) transformation in the second quarter amid a rise in digital banking alongside software and services revenue. [caption id="attachment_184285" align="alignright" width="300"] Photo by Bloomberg [/caption] NCR saw total revenue increase 23% year over year to $2 billion, according to its Q2 earnings release. Digital banking revenue grew 2% YoY to $131 million while “software and services revenue represented 73% of total revenue,” Chief Executive Mike Hayford said during Wednesday’s Q2 earnings call. “In payments and network, we are making progress across both merchant acquiring and the Allpoint Network,” Hayford said, referring to the June PNC Bank partnership with NCR’s Allpoint Network, which offers surcharge-free cash access. Atlanta-based NCR also signed 10 ATM-as-a-service deals in Q2, including one with the Bank of New Zealand , “which is embracing NCR’s ATM-as-a-service (AaaS) to run the bank’s ATM fleet as part of its digital transformation,” he said. NCR leverages technology provider’s FIS ’ AaaS, which offers a single point of contact for ATM servicing including software distribution, endpoint security, BIOS password management, cash forecasting and cash-in transit management, according to FIS. Hayford touted the growing client base of digital account opening provider Terafina , which NCR acquired in 2020, as well as rising digital payments revenue from cardless ATM solution Cardtronics , which the company acquired in 2021. NCR also closed the acquisition of cryptocurrency software developer LibertyX in January. Meanwhile, as COVID-19-related supply chain disruptions subsided in Q2, NCR “saw both higher transaction volumes and better availability of components,” Chief Financial Officer Tim Oliver said during the earnings call, noting that other factors — including the war in Ukraine, inflation and component cost — continued to disrupt NCR’s growth. As the economic environment remains turbulent “we diligently controlled the things that we could control and readied our businesses for any further shocks,” Oliver said. [stock_market_widget type="inline" template="generic" assets="NCR" markup="{name} ({symbol}) is trading at {price} ({change_pct}) as of{last_update}" display_currency_symbol="true" api="yf"]. Bank Automation Summit Fall 2022, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Learn more and register for Bank Automation Summit Fall 2022 .

NCR makes SaaS transformation, sees revenue spike

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NCR makes SaaS transformation, sees revenue spike

The company signed 10 ATM-as-a-service deals in Q2

TD Bank’s Paul Margarites joins Bank Automation Summit Fall

By the Numbers: Banking apps and RPA adoption gain popularity

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