Today In Digital-First Banking: NCR’s Recurring Revenue Increases; GoCardless Introduces Open Banking Feature
In today’s top news in digital-first banking, NCR Corporation reported an increase in recurring revenue amid a shift to “NCR-as-a-Service,” while GoCardless rolled out Instant Bank Pay. Plus, Greenlight Financial Technology, Inc. raised $260 million in a Series D funding round.
NCR Corporation reported as part of its financial results that revenue increased by 3 percent and recurring revenue increased by 9 percent between Q1 2020 and Q1 2021. The company reported that retail revenue increased by 13 percent due to growth of self-checkout and point-of-sale revenue as well as higher services revenue. “Our first-quarter results represent a great start to the year with increased momentum in our shift to NCR-as-a-Service,” NCR Corporation President and Chief Executive Officer Michael Hayford said in an announcement.
GoCardless has launched Instant Bank Pay, which is a new open banking functionality directly connected with the firm’s global payment platform. “The launch of this open banking feature means we can now serve any merchant, regardless of whether they have an ongoing or one-off relationship with their customers,” GoCardless Co-Founder and CEO Hiroki Takeuchi said in an announcement, which noted that open banking is still a somewhat new concept for Americans.
Greenlight Financial Technology, Inc. landed $260 million through a Series D funding round, which valued the family-centric financial technology upstart at $2.3 billion. Greenlight will harness the funding to grow its product development and distribution. The firm provides a money management platform that encompasses a debit card and educational materials meant to help families educate their kids on proper financial wellness skills. “Our vision at Greenlight is to create a world where every child grows up to be financially healthy and happy,” Greenlight Co-Founder and CEO Tim Sheehan said in a press release.