Enterprise tech provider NCR buys open banking IP from UK fintech Spoke
Enterprise tech provider NCR Corporation has acquired intellectual property pertaining to open banking from UK fintech Spoke Technologies.
NCR says the move will accelerate its push into open and international digital banking and will enable the firm to add customer-facing data integration capabilities across its financial services offerings. The financial terms of the deal have not been disclosed.
“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,” says Spoke Technologies founder Andrew Tarver.
NCR’s executive vice president Ismail Amla says the acquisition of the intellectual property will bring “added value” to clients who want to drive digital banking in international markets and enable open banking.
NCR says the acquisition is consistent with its strategy to acquire intellectual property that enhances “established and emerging product capabilities”.
The deal is the latest in a long line of acquisitions and partnerships NCR has cultivated over the past 12 months.
The Atlanta-based company bought up crypto ATM firm LibertyX in August and digital onboarding start-up Terafina in February 2021. It also formed partnerships with India’s Bank of Baroda last month and US Century Bank in May last year.