NCR, a technology provider for the financial industry, has acquired D3 Technology, a Nebraska-based digital banking solutions provider, for an undisclosed price.
The digital banking platform of D3 Technology is said to help financial institutions to increase engagement, reduce complexity and innovate at a faster rate. The company, which caters to the large financial institution (LFI) market, claims that currently, more than three million users are said to improve their digital banking experience using its technology.
The acquisition of D3 Technology will expand NCR Digital Banking into new market segments, covering large banks in the US, and subsequently international banks.
It is also expected to accelerate the digital first banking strategy of NCR which includes integration of the customer experience in all self-service channels. Included in these are online and mobile banking, ATMs, interactive teller machines, and other banking software solutions, which will be complemented by the consulting, advisory and support services of NCR.
NCR president and CEO Michael Hayford said: “D3 has a well-earned reputation for innovation and product excellence and delivers one of the most advanced digital platforms for large banks.
“NCR’s Digital First Banking solutions help financial institutions connect with consumers whenever, wherever, and this acquisition helps NCR provide banks of all sizes with an exceptional digital experience.”
Furthermore, NCR, through the acquisition can now offer on-premise solution built for the requirements of LFIs. The company’s digital banking solution portfolio has been providing solutions in the cloud for the community financial institution (CFI) market.
D3 Technology CEO Mark Vipond said: “NCR is a great fit for D3 and the timing is right for us to combine forces to create a powerful digital transformation platform for large financial institutions. This transaction enables us to capitalize on new market opportunities and bring top-tier capabilities to our mutual and future clients.”
In June 2019, NCR agreed to acquire the minority stake that Brazilian financial services company Banco Bradesco indirectly holds in NCR Manaus, the company’s Brazilian manufacturing and engineering entity. Financial terms of the deal were not revealed.