NCR Buys Out uGenius Video ATM Maker
NCR Corp. said Thursday it has bought uGenius Technology of Sandy, Utah, a pioneer in two-way ATM software that lets consumers conduct business remotely with a live teller.
NCR had become a part-owner of uGenius in early 2012. Atlanta-based NCR said the takeover will help it continue to grow its APTRA Interactive Teller business and that it plans to begin pilots at “multiple top 10 U.S. banks” in the first half of this year, as well as increase its credit union sales of the system.
“Video banking – or, as we prefer to call it, remote assisted service – will continue to gain momentum in the U.S. and other countries in 2013. Remote assisted service is proving to help financial institutions grow revenues while at the same time reduce their operating and real estate costs,” said Peter Leav, NCR executive vice president.
The company said approximately 95% of all teller transactions can be performed on the video teller, as well as the usual product sales and service that an in-branch teller provides.
“For instance, customers can perform secure transactions without using a traditional ATM card and, like branch tellers, remote tellers can rovide customers access to cash in their accounts in amounts over the standard ATM daily cash withdrawal limits,” NCR’s statement said.
The NCUA in 2012 ruled that video tellers count as service facilities when considering field of membership expansions. Gene Pranger, founder and CEO of uGenius, which had about 30 clients, said then he expected the machines to become an industry standard over time.