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Slow growth in the ATM-manufacturing industry has prompted NCR Corp. to enter the cash-recycling business. Bill Nuti, chairman and CEO of Dayton, Ohio-based NCR, told analysts in early December the company would enter the cash-handling market. "It's in our wheelhouse. We will be number one in this market," Nuti predicted. NCR's decision is the result of a confluence of issues, but the most important one concerns the slow growth NCR and its competitors are seeing in the U.S. market for ATMs, says Lee Manfred, partner with First Annapolis Consulting Inc. in Linthicum, Md. "The ATM markets are maturing in the U.S., and NCR is leveraging its knowledge of ATM technology to enter another vertical market to grow revenues," he says. In announcing its intentions, NCR is taking on Talaris Ltd., formerly De La Rue Cash Systems, the industry leader in the banknote-counting and banknote-recycling fields, industry officials say. Talaris also supplies internal mechanisms for NCR ATMs, Sue Foster, a Talaris spokesperson, tells ATM&Debit News, a CardLine sister publication. Cash Systems installed the world's first ATM in 1967 at Barclays Bank in London. Basingstok, England-based Cash Systems founded the cash-recycling industry with the world's first cash-recycling machine in 1985.
