NCR to Provide SelfServ 83 to Union Bank of the Philippines
NCR Corp. NCR recently announced that the Union Bank of the Philippines (UBP) will launch its prototype branch powered by the former’s Interactive Teller and will be called “The Ark”. The branch is located at Insular Building, Ayala Avenue corner Paseo de Roxas Avenue of Makati City.
UBP’s centrally placed video tellers will be enabled to remotely deliver almost 90 percent of the teller services via the Interactive Teller, NCR SelfServ 83. It accepts and dispenses cash and cheques. The device also takes care of payment of bills, transfer of funds, balance recharging of mobile phones as well as generation of mini statements.
Per the press release, “The NCR SelfServ portfolio includes intelligent cash deposit and recycling options, multi-currency deposit, remote download of templates and scalable check deposit.”
This will ensure greater convenience, which will attract new customers and inspire loyalty among the existing ones. This technology will benefit customers by saving time otherwise wasted in long queues at check-out counters and will eventually be a tailwind for the company’s financials.
We believe NCR’s position in the self-service kiosk space is encouraging given the tremendous growth prospects. Continued product launches, growing popularity of self-service offerings and synergies from acquisitions are the other catalysts.
We remain highly positive on the growing penetration of NCR’s SelfServ kiosks. Right from increasing operational efficiency, the company has been instrumental in offering value added solutions.
However, similar offerings from the likes of Diebold Corp. and International Business Machines Corp. could create some pressure. Furthermore, the company’s tepid guidance for fourth-quarter 2017 primarily due to weakness in ATM market is a concern, making us skeptical about its near-term performance.
Zacks Rank and Key Picks
NCR has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the sector are NetApp, Inc. NTAP, Broadcom Limited AVGO and NVIDIA Corporation NVDA, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected EPS growth rate for NetApp, Broadcom and NVIDIA are projected to be 11.3%, 13.8% and 10.3%, respectively.
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