Cash is Here to Stay Alongside Digital Boom

New report from NCR reinforces the need for banks to offer consumers more payment options and a seamless, secure user experience

SYDNEY, 01 August, 2018 - NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, has released findings from a study identifying consumer behaviours and attitudes towards banking services across Australia and New Zealand.

Titled “Banking in Australia and New Zealand: At a digital crossroads,” the research results reinforce the need for organisations to provide consumers with greater choice on when and how they interact with brands and make purchases, particularly among younger audiences. As the banking sector evolves with increased use of connected devices and other disruptive players entering the marketplace – like purely digital ‘neobanks’ – consumers have more choices than ever for core banking services.

“To remain competitive and succeed in this highly digital economy, organisations must be able to match the expectations of consumers – especially among younger Australians – or risk losing out,” said Craig Jennings, managing director of financial services at NCR in Australia. “Millennials will consider switching to another financial institution or neobanks if it makes their lives easier and gives them the experience they want. However, this research also identified that millennials want more choice and peace of mind knowing their information remains protected, no matter where they are shopping”.

The research suggests that Australians will continue to use cash in tandem with digital payment solutions. An average of 66 per cent of consumers across all age groups are withdrawing cash from ATMs at least once a month, and more than half (51 per cent) are logging into their mobile banking apps every week.

The report also showed that consumers are loyal to their existing financial institutions due to convenience and user-friendly experience. Around two thirds of Australians across Generation Z (70 per cent), millennials (62 per cent) and Generation X (64 per cent) are sticking with their current bank.

“The majority of millennials have completed their studies and entered the workforce. As Australia’s second largest demographic, this cohort is fast becoming a core client base for the banking sector, making it incredibly important for banks to better engage with millennials,” commented Jennings.

Younger Australians are also becoming more engaged in their financial affairs. The report identified a strong relationship between mobile-first millennials and the desire for value- added services that help consumers track their spending online and offline.

“NCR has a heritage in providing organisations with the tools they need to grow as a business and deliver exceptional customer experiences,” Jennings continued. “The uptake of new digital payment solutions reinforces our commitment to help businesses accept any payment, whether it’s cash or contactless, quickly and easily”.

Coinciding with the launch of the GlobalData research is the opening of NCR’s new Australian headquarters. Located in Chatswood, New South Wales, the new space features state-of-the-art facilities, including a customer experience centre showcasing the latest technologies in software and hardware solutions to enable millions of transactions each day.

Research methodology

“Banking in Australia and New Zealand: At a digital crossroads” was commissioned by NCR Australia in conjunction with GlobalData. Total sample size was 7,000 consumers, with 5,000 respondents in Australia and 2,000 in New Zealand. Findings from this are based on results from the GlobalData 2018 Retail Banking Insight Survey, which took place from January to March 2018 across 20 markets globally.

Guide to age cohorts from the research:

  • Generation Z: Born post-1996
  • Millennials/Generation Y: Born between 1982-1996
  • Generation X: Born between 1961-1981
  • Baby Boomer: Born between 1946-1960
  • Older: Born pre-1946

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 nearly 700 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, Ga., 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. NCR encourages investors to visit its web site which is updated regularly with financial and other important information about NCR.


Twitter: @NCRCorporation





Media contacts

Rakesh Aulaya

Communications Partner

+91 22 6195 4583

[email protected]

Neeley Williams

H+K Strategies for NCR

+61 2 9286 1242

[email protected]

About NCR Corporation

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.

Cautionary Statement Regarding Forward-Looking Statements

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.

NCR Corporation Investor Contact

Michael Nelson
NCR Corporation
[email protected]

NCR Corporation and NCR VOYIX, LLC News Media Contact

Scott Sykes
NCR Corporation
[email protected]