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In a press release today, NCR announced its strategic investment in uGenius Technology LLC, a Utah-based pioneer in video banking solutions. NCR has taken a minority equity stake in the company.

In mid-2011, NCR and uGenius announced their collaborative effort on the first ATM that lets consumers talk and bank with a live remote teller. The NCR APTRA Interactive Teller uses uGenius video banking technology, giving users the choice to conduct teller-assisted transactions with a video teller or use the NCR SelfServ solution for traditional ATM transactions. The two-way conference capability enables teller services in areas not served by branches and also allows banks to offer their customers 24/7 live-teller service.

“We are on the verge of a dramatic reshaping of the consumer experience in the branch," said Michael O’Laughlin, senior vice president of NCR Financial Services. "Technology will play a powerful role in making that environment better and more convenient for consumers, while becoming more cost effective for financial institutions. We’ve already seen significant interest from financial institutions around our joint solution with uGenius.”

“Today financial institutions have a great opportunity to break away from old thinking and use video teller technology to transform their retail banking business, economically increase their distribution, reduce costs, and delight customers,” said Jed Taylor, president of uGenius Technology. “We’re excited about the role of video banking in the evolution of the bank branch, and we believe our strategic partnership with NCR will help us bring this technology to financial institutions around the world.”

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