In order to help small businesses take advantage of the convenience and cost savings of remote deposit capture, NCR Corp. (NCR) entered into an Original Equipment Manufacturing (OEM) agreement with  Document Capture Technologies, Inc. (DCMT). Under the agreement, NCR will offer a new cost-effective hardware and software solution that will help financial institutions offer small businesses remote deposit solution at a much lower cost.

NCR holds the leading position worldwide in automation equipment in the Financial Self-Service (ATM) industry. NCR is a large, well-established global technology firm with a diversified product base.

Earlier in 2009, the company had introduced a software called NCR APTRA Consumer Passport solution that allows consumers to deposit checks into their checking or savings accounts without leaving their homes and without purchasing any new hardware. For select clients, RDC could allow for same-day crediting to their accounts, quicker access to deposited funds and detailed deposit reports for improved record keeping.

The RDC service will help the company procure new clients. In addition, low-cost RDC solutions will enhance consumer self-service online banking. We also believe NCR is well-positioned to benefit from the huge RDC growth.

Adoption of RDC is expected to increase by more than 400% in the next three years, according to Celent research. Moreover, the deployment of RDC is on the rise as there are an estimated 27 million small businesses in the U.S. with a checking account.

In Retail Store Automation, we believe that the company’s self-checkout segment will grow in popularity among consumers over the long-term. Moreover, after several years of disappointment, Financial Self-Service grew sales initially in Europe, Middle East, Africa and the Asia-Pacific. Domestic sales posted growth in both 2007 and 2008. We believe that NCR’s robust business model, aggressive cost cutting measures and new business initiatives, will help the company resume growth going forward.

The agreement places it in direct competition against several large and well-established firms. In Financial Self-Service, NCR’s primary competitor is Diebold Inc. (DBD). In Retail Store Automation, the company competes against International Business Machines Corp. (IBM) and Dell Inc. (DELL). Though competition is intense, we are optimistic about the company’s position in most operating segments.

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