Innovative Financial Institutions Honored at NCR Idea Tank Competition
NCR to provide R&D resources to develop and implement winning submission from Rivermark Community Credit Union
DULUTH, Ga. – October 14, 2016 – NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced the winner of its second annual Idea Tank competition, Rivermark Community Credit Union’s Seth Schaefer. Schaefer and Rivermark were honored at NCR’s annual Innovation Conference in Washington, D.C. and will receive R&D resources to develop and pilot their idea with NCR.
Schaefer’s winning product idea, Simplified Member Authentication, was chosen for its unique approach to improving a time consuming and often impersonal process: how to securely authenticate members or customers in every channel, whether it be at an Interactive Teller Machine (ITM), ATM, in-person branch transaction, over the telephone, or with a loan officer. Each finalist’s entry was evaluated for its innovative approach and potential positive impacts to both the financial institution and customer experience.
The primary concept behind Simplified Member Authentication is to provide customers with a hassle-free member experience, increase the use of mobile banking, and improve employee efficiency and productivity. The concept was focused on delivering an Express Transaction that transforms a user’s device into a ‘branch in your hand’ that jump starts and streamlines any secure transaction.
“The Idea Tank is one of several ways in which we co-innovate with our customers. It is an opportunity for our inventive customer base of financial institutions to present solutions to problems they see every day, work with our Innovation Catalysts to refine the ideas, and partner with us to invent the future,” said Jose Resendiz, VP and GM of NCR Financial Services. “Seth’s spirited and thorough presentation creatively leveraged the customer’s own device to bridge the gap between channels, and we are looking forward to working with Rivermark to bring his idea to reality.”
NCR is also proud to honor the four finalists chosen alongside Rivermark: Gereen Langmeyer of Digital Federal Credit Union, Evan Westlake of Illinois National Bank, Joshua Allen of 1st Security Bank and Lynn Blotkamp of First Interstate Bank.
Earlier this year, NCR invited its entire digital banking customer base to present a compelling customer problem in the digital banking space and propose a solution that would effectively address that problem. These semi-finalists received training and coaching in Design Thinking from NCR’s Innovation Catalysts in order to further refine their idea and their pitch. From there, financial institution voting and a panel of NCR’s digital banking experts narrowed the field to a group of five finalists who pitched their idea to a panel of judges in front of their peers at the NCR Innovation Conference.
“NCR’s Idea Tank is an amazing opportunity for clients to share ideas that address consumer and financial institution pain points,” said Seth Schaefer, VP of Operations, Rivermark Community Credit Union. “Anyone who has visited a branch has experienced the awkward ‘prove your identity’ conversation – there’s a better way to know your customer and with NCR’s help we are building a solution to simplify the experience.”
To view Schaefer’s video presentation further describing Simplified Member Authentication, as well as submissions from the additional finalists, click here.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.
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NCR Corporation (NYSE: NCR) is a leader in transforming, connecting, and running technology platforms for self-directed banking, stores, and restaurants. NCR is headquartered in Atlanta, Georgia, with 35,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
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