NCR Atleos Corporation - NATL STOCK NEWS

NCR Atleos (NYSE: NATL) has announced a partnership with NuMark Credit Union to modernize their branch network. NuMark has selected Atleos' ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) solutions, along with the ATM Management Platform (AMP) Interactive Services. This collaboration aims to enhance self-service banking for members while increasing operational efficiencies.

NuMark Credit Union, serving Southwest Chicago for over 65 years with 13 branches and more than 50,000 members, will transfer complete responsibility of its fleet to Atleos. This includes distribution, installation, maintenance, and cash management. The partnership is expected to expand member services, reduce complexities, and costs while providing a digitally optimized, seamless experience across various touchpoints.

NCR Atleos (NYSE: NATL) has announced that CoreFirst Bank & Trust, a $1.2 billion-asset bank, has selected Atleos' Allpoint Network to expand financial access for its customers. This collaboration will provide CoreFirst's customers with surcharge-free access to over 40,000 ATMs in retail locations across the United States, including cash deposit capabilities at more than 3,000 locations.

CoreFirst Bank & Trust, based in Topeka, Kansas, aims to offer convenient banking transactions in its existing service areas and nationwide. This partnership aligns with CoreFirst's history of innovation, as they were the first in their region to introduce 24-hour ATMs and in-grocery store branches. The collaboration is expected to provide business benefits such as reduced overhead and simplified operations for CoreFirst.

NCR Atleos (NYSE: NATL) announced that Ocean Bank, Florida's largest independent state-chartered commercial bank with $6.4 billion in assets, has chosen Atleos' Allpoint Network to support its growth and expand customer access to financial services. By joining the Allpoint Network, Ocean Bank will provide its customers with surcharge-free access to over 40,000 ATMs in retail locations across the country.

Yuni Navarro, executive vice president and chief administrative officer for Ocean Bank, emphasized the importance of customer service and convenience in their mission. The partnership with Atleos allows Ocean Bank to quickly deliver additional secure access points for customers as they expand into new markets.

Steven Nogalo, general manager of North America for Atleos, highlighted the company's proven success and deep understanding of the financial technology landscape, positioning Atleos as the leading provider of utility ATM networks.

NCR Atleos (NYSE: NATL) has secured the #6 position in the 2024 IDC FinTech Rankings Top 100, emerging as the largest ATM company on the list. This prestigious ranking evaluates global providers of financial technology based on their calendar year revenues from financial institutions for hardware, software, and services.

Marc DeCastro, research director at IDC Financial Insights, highlighted Atleos' role in assisting financial institutions to modernize their branch presence through digital-first self-service technologies. Stuart Mackinnon, COO of Atleos, expressed pride in the company's industry-leading ATM expertise and its ability to empower financial institutions in providing exceptional digital-first experiences.

The IDC FinTech Rankings list showcases technology companies worldwide that focus on providing solutions to the financial services and FinTech industries, representing the technological backbone of the financial services sector.

NCR Atleos (NYSE: NATL) has launched a new LibertyX Bitcoin Cashout feature, allowing enrolled LibertyX customers to sell bitcoin and pick up cash at ATMs across the United States. This feature utilizes Atleos' ReadyCode API suite, a one-time use code system supporting various cash in and out solutions.

The service will be available at thousands of merchant locations, with a transaction point within five miles of over 75% of Americans once fully rolled out. Initially, it will be accessible in more than 30 states. Users can stage transactions through the LibertyX mobile app and fulfill them at participating Atleos ATMs that are ReadyCode enabled.

This initiative aims to bridge digital solutions with physical infrastructure, enhancing LibertyX's value proposition, increasing foot traffic for participating merchants, and improving ATM productivity.

NCR Atleos (NYSE: NATL) has received a credit rating upgrade from Moody's Ratings, reflecting its solid strategic execution and financial performance since separating from NCR in October 2023. Moody's has upgraded Atleos' Corporate Family Rating to B1 from B2 and raised the rating for its senior secured first lien debt instruments to B1 from B2.

The upgrade is attributed to Atleos' improved leverage profile, solid free cash flow, and commitment to debt reduction. Paul Campbell, CFO of Atleos, expressed satisfaction with the recognition of the company's progress in its first year as an independent entity. Atleos anticipates continued momentum in leveraging its hardware base to generate additional service, software, and transaction revenue streams, potentially leading to stronger earnings and free cash flow.

NCR Atleos (NYSE: NATL) reported strong Q2 2024 results, with revenue growing 4% year-over-year to $1.08 billion. Recurring revenue increased 9% to $793 million. The company achieved a GAAP net income of $29 million and Adjusted EBITDA of $193 million. GAAP fully diluted income per share was $0.39, while non-GAAP fully diluted earnings per share reached $0.81.

Atleos reaffirmed and narrowed its full-year 2024 targets, projecting revenue between $4.26-$4.34 billion and Adjusted EBITDA of $770-$800 million. The company also issued Q3 2024 guidance, expecting revenue of $1.045-$1.075 billion and Adjusted EBITDA of $195-$205 million.

NCR Atleos (NYSE: NATL) announced that Credit Union of America (CUA), a $1.5 billion-asset institution, has joined Atleos' Allpoint Network to expand its national reach and enhance members' access to financial services. This partnership allows CUA's members to use over 55,000 surcharge-free ATMs across the country, in addition to their existing ATM network.

The collaboration aims to provide CUA members with convenient physical touchpoints for cash withdrawals and other critical financial services, especially in areas without nearby branches. Dan Umscheid, VP of Payments Solutions & Strategy for CUA, emphasized the importance of offering reliable, surcharge-free access to cash as part of their expansion strategy. Steven Nogalo, GM of North America for Atleos, highlighted the increasing demand for utility ATM networks, which benefit both consumers and financial institutions.

NCR Atleos (NYSE: NATL) has announced an expanded partnership with Chime, the #1 Most Loved Banking App. Chime will now brand ATMs at 4,000 Walgreens stores across the United States, leveraging Atleos' Allpoint Network. This expansion builds on their existing relationship, which has provided Chime members with access to over 50,000 fee-free ATMs since 2021.

The branding initiative, set to begin in August, aims to increase Chime's visibility and make it easier for cardholders to identify fee-free ATMs. This move enhances Chime's strategy of combining mobile-first banking with convenient cash access, allowing members to withdraw money at no cost while shopping at Walgreens.