NCR Acquires Fintech Intellectual Property for Open Banking

Rhea-AI Summary

NCR Corporation (NYSE: NCR) has acquired fintech intellectual property for Open Banking from Spoke Technologies Limited. This strategic acquisition enhances NCR's digital banking services by integrating data capabilities that support personalized customer experiences across the Financial Services sector. Ismail Amla, Executive VP of NCR, emphasized the added value for clients aiming for digital banking growth in international markets. Financial details of the transaction remain undisclosed.

Positive

• Acquisition of fintech intellectual property enhances NCR's digital banking services.
• Integration of data capabilities supports personalized customer experiences.
• Strengthens NCR's position in the convergence of Finance and Retail.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced the acquisition of fintech intellectual property for Open Banking from Spoke Technologies Limited.

The acquisition accelerates NCR’s move into open and international digital banking – adding data integration capabilities supporting personalization and customer-led experiences that are applicable across Financial Services and supporting the convergence of Finance and Retail for our key clients.

“This is another step in our digital banking services growth strategy,” said Ismail Amla, Executive Vice President, NCR Corporation. “We are excited about the added value this brings to clients who want to drive digital banking in international markets, enable open banking and to bring together retail and financial experiences for our clients and their customers.”

“With this acquisition, NCR has the software to embed financial services capabilities into every customer experience and build market-leading data intelligence for their clients,” said Andrew Tarver, Founder of Spoke Technologies.

This acquisition is consistent with NCR’s strategy to acquire intellectual property to enhance established and emerging product capabilities, extending NCR leadership in the vertical industries NCR serves.

Financial terms of the transaction were not disclosed.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a leading enterprise technology provider that runs stores, restaurants and self-directed banking. NCR is headquartered in Atlanta, Ga., with 38,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308005386/en/

NCR Media Contact

Scott Sykes

NCR Corporation

scott.sykes@ncr.com

NCR Investor Contact

Michael Nelson

NCR Corporation

678-808-6995

michael.nelson@ncr.com

Source: NCR Corporation

FAQ

What is NCR's recent acquisition about?

NCR has acquired fintech intellectual property for Open Banking from Spoke Technologies Limited.

How will the acquisition impact NCR's services?

The acquisition will enhance NCR's digital banking services and support personalized customer experiences.

What are the expected benefits of NCR's acquisition?

The acquisition is expected to drive digital banking growth in international markets and strengthen Finance and Retail convergence.

When was the acquisition announced?

The acquisition was announced recently, with no specific date provided.

What financial terms were disclosed about the NCR acquisition?

The financial terms of the transaction were not disclosed.