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LowellBank To Expand Its Branch Network Using NCR APTRA Interactive Teller

LowellBank, a 127-year-old financial institution in Lowell, Mass., is taking a new approach to growing its geographic footprint. Beginning in November, LowellBank will install NCR APTRA™ Interactive Teller at remote sites throughout the region in order to give customers greater access to teller services.

The new ATM-based technology from NCR Corporation (NYSE: NCR) lets customers conduct transactions and other banking sales and services with a live, remote teller, who has complete control of the ATM. Supported by simultaneous video and audio connections, Interactive Teller can help customers complete 95 percent of the teller services that can be done inside a branch. NCR Interactive Teller will allow LowellBank to offer teller services well beyond traditional branch hours.

The bank also will install units in branch lobbies to give their customers even more service options, and several more units in new locations in order to reach underserved areas.

“The decision to purchase this technology just made perfect strategic sense for LowellBank,” said Richard E. Bolton, Jr., LowellBank president and CEO. “Our Personal Teller Machines will not only improve the delivery of service for our customers and provide customers with more banking options, but allows LowellBank to extend service hours and deliver a personalized experience remotely. We are excited to be the first bank in New England to introduce NCR’s video teller services to the market, positioning ourselves to be an industry leader in innovative ways to service our customers.”

In August 2012, the National Credit Union Administration ruled that the functionality of Interactive Teller could be considered a “service location,” allowing federal credit unions to adopt the technology to grow their footprint. NCR anticipates U.S. banks to adopt a similar approach, and LowellBank will be one of the first in the nation to use Interactive Teller as a remote branch.

“Bank branches remain an important selling tool and revenue driver for financial institutions, but they are costly and make it difficult for banks to expand their footprint,” said Michael O’Laughlin, senior vice president, NCR Financial Services. “Interactive Teller is a solution to the challenges around expansion. Financial institutions can use Interactive Teller to augment their branch footprint, deliver teller services to underserved areas and deliver their branch promises. We believe that LowellBank is one of the first of many financial institutions who will take this approach.”

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