Technology company NCR Corporation has acquired its corporate venturing portfolio company UGenius Technology, a US-based provider of video banking software, for an undisclosed amount.
In January last year, NCR Corporation invested an undisclosed sum in UGenius acquiring a minority stake. In 2011, NCR and uGenius worked together to build an Automatic Teller Machine (ATM), which lets customers talk with their tellers on-line.
Peter Leav, executive vice president at NCR Corporation, said: “Video banking – or, as we prefer to call it, remote assisted service – will continue to gain momentum in the US 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.”