NCR Announces Partnership with NYMBUS to Facilitate Loans for Small Businesses
ATLANTA—April 3, 2020—NCR Corporation (NYSE: NCR), a global enterprise technology provider for the banking, retail and hospitality industries, today announced an agreement with NYMBUS to assist small businesses impacted by COVID-19 with accessing Small Business Administration (SBA) Paycheck Protection loans. The NYMBUS SmartLoans platform provides end to end full service loan processing which allows every SBA approved bank in the United States to rapidly submit SBA applications on behalf of their customers without the overhead normally required.
On Friday, March 27, Congress approved the CARES Act which includes the very important Paycheck Protection Program (PPP). This effort will directly help small businesses (under 500 employees) by providing cash-flow assistance through 100 percent-federally guaranteed loans to employers who maintain their payroll during this emergency. If the employer maintains their average prior payroll, the portion of the loan used for payroll costs and other qualifying expenses will be forgiven.
“Small and medium sized businesses, in particular restaurants, are scrambling to navigate the impact of business disruptions during the coronavirus outbreak,” said Dirk Izzo, president of NCR Hospitality. “We’re committed to helping our small and medium sized business customers keep commerce running and navigate this difficult time—including facilitating access to much-needed financial support.”
NCR is regularly publishing resources to assist restaurants during this difficult time, including reoptimizing restaurant layout to better support takeout and curbside operations.
“The most difficult part of getting small businesses help is access to the loans without the traditional overhead on lenders,” said David Mitchell, President of NYMBUS. “The NYMBUS SmartLenders turnkey loan outsourcing platform allows our bank partners to immediately process a much higher volume of loans without needing to adjust their systems to do so. The NCR and NYMBUS team puts together the borrowers and lenders at a faster pace. Our joint vision is to help our communities as fast as we can. Banks wishing to join forces with NYMBUS and NCR to help small businesses through this program should contact us immediately.”
In 2019, NYMBUS licensed NCR’s D3 Digital Banking platform (D3) to provide comprehensive digital interactions in conjunction with its SmartEcosystem™ banking solutions.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading software- and services-led enterprise provider in the financial, retail and hospitality industries. NCR is headquartered in Atlanta, Ga., with 36,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
Website: www.ncr.com
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About NYMBUS
NYMBUS provides the world’s most advanced financial services ecosystem. From SmartEcosystem, SmartCore®, SmartDigital™ and SmartMarketing™, our flagship digital technology solutions, to SmartLaunch™, our full-service and standalone digital bank alternative, the NYMBUS SmartBanking™ suite enables financial institutions to digitally transform their businesses.
NCR Media Contact:
Scott Sykes
212-589-8428
scott.sykes@ncr.com
NYMBUS Media Contact:
Susie Dougherty
781-901-9232
sdougherty@nymbus.com
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.
NCR VOYIX Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail, restaurant and digital banking industries. NCR VOYIX transforms retail stores, restaurant systems and digital banking experiences with comprehensive, platform-led SaaS and services capabilities. NCR VOYIX is headquartered in Atlanta, Georgia, with approximately 16,000 employees in 35 countries across the globe.
This release contains forward-looking statements. Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to NCR’s or NCR VOYIX’s plans, goals, intentions, strategies, financial outlook, NCR’s or NCR VOYIX’s expectations regarding the Spin-Off, NCR’s or NCR VOYIX’s intention to consummate the offering and issue the Notes or the intended use of proceeds from the offering of the Notes and enter into the new senior secured credit facilities, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of the NCR’s and NCR VOYIX’s control. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements. Additional information concerning these and other factors can be found in NCR and NCR VOYIX’s filings with the U.S. Securities and Exchange Commission, including NCR’s most recent annual report on Form 10-K, most recent quarterly report on Form 10-Q and current reports on Form 8-K and NCR VOYIX’s registration statement on Form 10, most recent quarterly report on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. Neither NCR nor NCR VOYIX undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Michael Nelson
NCR Corporation
678-808-6995
michael.nelson@ncr.com
Scott Sykes
NCR Corporation
scott.sykes@ncr.com