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NCR acquires Terafina, expands digital banking platform

NCR Corp., a software and technology provider for financial institutions, has acquired Terafina, a customer account opening and onboarding solution that can be used across digital, branch and call center channels, according to a press release.

With the addition of Terafina, NCR can further expand its sales and marketing capabilities in its Digital First Banking platform to drive revenue growth in both consumer and business market segments. Integrating Terafina's customer onboarding experience into the NCR Digital First platform will drive higher customer satisfaction and increase product sales.

"Digital banking is a key aspect of the NCR-as-a-Service strategy we laid out at Investor Day in December," Michael D. Hayford, president and chief executive officer, NCR Corporation said in the release. "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."

The acquisition of Terafina is consistent with NCR's strategy to acquire early stage software companies to enhance product capabilities and extend NCR leadership in the vertical industries NCR serves.

Financial terms of the transaction were not disclosed.