NCR to purchase mobile banking solutions provider Digital Insight for $1.65bn

NCR has signed an agreement to purchase Digital Insight, a California-based online and mobile banking solutions provider, from Thoma Bravo for $1.65bn, as part of its plan to transform its financial services business.

NCR has signed an agreement to purchase Digital Insight, a California-based online and mobile banking solutions provider, from Thoma Bravo for $1.65bn, as part of its plan to transform its financial services business.

Under the plan, the company has also acquired UK-based secure transaction switching and fraud prevention software provider, Alaric Systems, for around $84m.

The two deals will allow NCR to extend its capabilities in the banking industry and develop a suite of retail banking solutions for all channels including mobile, online, branch and ATM.

The collaboration with NCR will also allow retail banks to reduce their costs and extend their solutions at new branches by providing single platform for omni-channel services and all payment and transaction types.

NCR chairman and CEO Bill Nuti said with the agreement to purchase Digital Insight and acquisition of Alaric Systems, the company becomes a global FinTech solutions provider enabling retail banks to deliver on the promise of omni-channel capabilities – on top of an unparalleled, innovative software platform.

NCR Financial Services senior vice president Andy Heyman said they now have an opportunity to enable differentiated consumer experiences through safe, secure, and integrated transactions across every banking touch point.

"We will help financial institutions to reduce costs, serving as a single solutions provider for ATM, branch, mobile, commerce and internet banking services, as well as the payments and processing infrastructure behind those experiences," Heyman added.

The Digital Insight deal, which is subject to customary closing and other conditions, is expected to be completed in the first quarter of 2014.