NCR acquires customer account opening & onboarding provider Terafina

By Pavithra R

NCR Corporation, a global enterprise technology provider for the financial, retail and hospitality industries, has announced the acquisition of Terafina, a software-as-a-service product company providing digital account opening services and onboarding across digital, branch and call center channels.

Through the acquisition, NCR is planning to expand its sales and marketing capabilities in its Digital First Banking platform to drive revenue growth across consumer and business market segments. 

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

Integrating the customer onboarding experience into the NCR Digital First platform is expected tol drive higher customer satisfaction and increase the number of products which a customer will open. This combination will enable FIs to build stronger customer relationships, strengthen brand loyalty and delight customers across their digital and physical channels.

“We are very excited to combine with NCR’s Digital Banking business, which we believe is one of the largest and clearly one of the leading innovators in the marketplace. Terafina is looking forward to take what we’ve built and see it grow together with NCR,” said Meheriar Hasan, Founder & CEO, Terafina.

The acquisition is consistent with NCR’s strategy to acquire early-stage software companies to enhance product capabilities and extend its leadership in the vertical industries it serves.

Established in 1884, NCR Corporation is a leading provider of banking and commerce solutions. It provides enterprise led software and services in the financial, retail, and hospitality industries. NCR is a trademark of NCR Corporation in the U.S. and other countries. According to company data, its digital banking solution is being used by more than 600 Financial institutions.