NCR has acquired Transoft International, which specialises in cash cost optimisation software for financial institutions and retailers, for an undisclosed sum. NCR will integrate Transoft’s software and Software-as-a-Service (SaaS)-based product suite and employees into its financial services line of business in order to strengthen NCR’s existing cash management offering, but the full financial terms of the takeover were not revealed. The ultimate aim is obviously to try to offer financial institutions and retailers an integrated cash management solution under one company.
Transoft manages cash for hundreds of thousands of ATMs, branches, vaults and retailers around the world. Its cash cost optimisation software uses complex statistical analysis to help financial institutions and retailers optimise their cash requirements and reduce costs associated with cash handling. NCR believes that cash management represents a US$1bn segment for integrated technology hardware, software and services solutions.
“The addition of Transoft’s solutions and experience will help NCR build a unique and compelling integrated cash management solution,” said Peter Leav, executive vice president (EVP), NCR. “As financial institutions continue to reinvent their customer experience through intelligent deposit and branch transformation, managing cash is becoming increasingly complex, making Transoft’s software an increasingly important opportunity. The integration of Transoft’s software and SaaS offerings with NCR’s experience in ATM and branch technology and strategies will give our customers a source of innovative solutions.”