Wells Fargo and NCR partner for retail banking innovation
NCR Corporation and Wells Fargo have established a team focused on research and development in ATM and retail banking customer experience.
Over the past eight years, NCR and Wells Fargo have worked together on other projects. These range from cash- and check-processing to self-service devices.
The latest agreement expands the relationship to a “more strategic level”, co-locating team members from both companies to develop the technologies for retail banking stores and ATMs.
Jonathan Velline, head of ATM banking and store strategy for Wells Fargo, says: “We have a long history of innovation, and we expect this collaboration with NCR to add to our legacy, deliver the next generation of technology in our physical channels and further enhance customer experience.”
Bill Nuti, chairman and CEO, NCR Corporation, adds: “Wells Fargo will have access to our global innovation community, customer engineers and executive leadership to provide support in Wells Fargo’s lab.”
NCR is no stranger to teamwork as it recently signed a strategic alliance agreement with US-based Huntington Technology Finance to provide lease financing for NCR ATMs, including “ATM-as-a-Service” type options, for financial institutions (FIs).
Meanwhile, Wells Fargo said it will launch real-time person-to-person (P2P) transactions in the US – for more than 17 million mobile customers.
It also invested in Alpha Payments Cloud, a provider of the AlphaHub Payments-as-a-Service platform.