NCR said Monday that it's acquiring fintech software company Terafina. NCR, a predominate maker of ATMs and point-of-sale terminals, plans to use the deal to add new sales and marketing capabilities to its digital banking platform. Financial terms of the deal were not disclosed.
Specifically, NCR will integrate Terafina's software -- which is focused on providing digital account opening and onboarding services across online, branch and call center channels -- into its digital banking as-a-service platform for financial institutions.
"Digital Banking is a key aspect of the NCR-as-a-Service strategy we laid out at Investor Day in December," said NCR chief executive Michael Hayford. "Terafina has been a partner of ours and is already up and running, integrated with our Digital Banking platform. We know this adds value for our clients by making digital account sales, marketing and onboarding easier, so they can provide a superior experience for customers."
For NCR, the Terafina deal lines up with the company's acquisition-based growth strategy. NCR has focused on buying early stage software companies to bolster its product portfolio and extend its reach in vertical industries.
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Last month, NCR shelled out $2.5 billion to acquire Cardtronics, a non-bank ATM operator and provider of managed services and payment processing for retailers and financial institutions. NCR said Cardrtonics' Allpoint ATM network would complement NCR's payments platform. The company also intends to use Cardtronics' existing network and installed base to push further into the payments space.