The collaboration enables financial institutions to provide a range of unified payment and cash management solutions tailored to the needs of small businesses.
By allowing small enterprises to accept payments through multiple channels, including in-app and online, and efficiently manage their incoming funds with supplementary accounting and reporting capabilities, banks and credit unions can increase their ability to attract, retain, and assist these valued customers. Currently, NCR and Autobooks have over 100 shared financial institution clients actively using their services.
Officials from Aubooks said that third-party competitors have attempted to enter the small business segment with a wide range of products and services, many designed to disintermediate relationships with primary financial institutions. Together, Autobooks and NCR are delivering digital-first payment and receivables tools, helping financial institutions strengthen relationships and loyalty with the critical small business market.
Later in 2023, NCR and Autobooks will also offer Tap-to-Pay capabilities, allowing financial institutions to offer their small business customers the ability to use smartphones to accept in-person, contactless payments — without any additional hardware.
NCR's representatives expressed satisfaction in offering prominent payment features and functionalities for small businesses, seamlessly integrated into their digital banking platform. Collaborating with Autobooks, they aim to fulfil an essential yet historically neglected requirement of facilitating easy payment solutions for small enterprises. These innovations are expected to support banks and credit unions in expanding deposit relationships, boosting revenue, and establishing a competitive advantage in the market.
In September 2022, NCR has announced it will split in two independent companies in 2023 : one focused on digital commerce, the other on ATMs.
NCR's digital commerce company will capitalise on the software-led model to drive transformation in retail, hospitality, and digital banking sectors. It will emphasise common solutions to promote innovation and operational efficiency, reinvesting in the business for accelerated growth and recurring revenue.
On the other hand, NCR's ATM company will focus on delivering ATM-as-a-Service to its customer base of banks and retailers. Leveraging NCR's leadership in self-service banking and ATM networks, the company will meet the global demand for ATM access and explore new transaction types, including digital currency solutions, to stimulate market growth. Additionally, it will shift toward a highly recurring revenue model, aiming for stable cash flow and delivering capital returns to shareholders.
NCR Corporation is transforming, connecting, and running technology platforms for self-directed banking, stores, and restaurants. NCR is headquartered in Atlanta, Georgia, with 35,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
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