NCR Acquires Fintech Intellectual Property from Spoke Technologies to Boost Open Banking

NCR Corporation (NYSE: NCR), a global enterprise technology provider, recently announced the acquisition of fintech intellectual property for Open Banking from Spoke Technologies Limited.

The acquisition accelerates NCR's move into open and international digital banking – adding data integration capabilities supporting personalization and customer-led experiences that are applicable across Financial Services and supporting the convergence of Finance and Retail for its key clients. 

"This is another step in our digital banking services growth strategy," said Ismail Amla, Executive Vice President, NCR Corporation. "We are excited about the added value this brings to clients who want to drive digital banking in international markets, enable open banking and to bring together retail and financial experiences for our clients and their customers."

"With this acquisition, NCR has the software to embed financial services capabilities into every customer experience and build market-leading data intelligence for their clients," said Andrew Tarver, Founder of Spoke Technologies.

This acquisition is consistent with NCR's strategy to acquire intellectual property to enhance established and emerging product capabilities, extending NCR leadership in the vertical industries NCR serves.

Financial terms of the transaction were not disclosed.