Automated Teller Machine (ATM) and self service kiosk manufacturer NCR Corporation ">NCR Corporation (NCR) recently introduced NCR c-tailing, a customer-centric solution. This is a new professional service offering, which will ultimately assists retailers to develop a converged retailing (c-tailing) strategy aimed at removing the bottleneck between physical and digital retailing channels, thereby improving channel efficiency. With its mix of software and services, NCR c-tailing will offer personalized services to retailers.

Recently, the technology major has offered a new cash recycling technology to UK's Metro Bank Plc., aimed at automating acceptance, authentication and validation of bank notes, while making them instantly dispensable to customers. These technologies facilitate customers' business processes, thereby generating demand for its products at its end customer.

According to a study published by Retail Banking Research (RBR), NCR has been the world's largest supplier of multi vendor ATM middleware and applications for 23 consecutive years. The report also states that substantially more financial institutions in North America rely on NCR's software suite when compared to the next three providers taken together.

We believe the new devices will drive penetration at banking and retail clients, since they can now offer better customer service at remote locations at minimum expenditure.

While we are encouraged by the company's successful acquisitions, product introductions and new business ventures, we believe that revenue growth will pick up meaningfully only after NCR's clients make substantial fresh investments on technical devices. We believe it will be some time before the company's robust business model and restructuring initiatives begin to drive results.

We currently have a long-term Neutral recommendation and a short-term Hold rating (Zacks #3 Rank) on NCR Corp.