NCR, a technology company that makes ATMs and self-service kiosks, has bought fintech firm Terafina to expand its Digital First Banking platform.

Financial details of the acquisition were not made public.

This deal is part of NCR’s strategy of acquiring early state software companies to improve its position in the vertical industries it serves.

Terafina is an early-stage software company specialised in account opening and digital onboarding across online, branch, and network of call centre channels.

The integration of Terafina’a digital onboarding capabilities into the NCR’s Digital First platform will lead to strong NCR customer relationships, noted the ATM maker.

NCR president and CEO Michael Hayford said: “Digital Banking is a key aspect of the NCR-as-a-Service strategy we laid out at Investor Day in December.

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“Terafina has been a partner of ours and is already up and running, integrated with our Digital Banking platform. We know this adds value for our clients by making digital account sales, marketing and onboarding easier, so they can provide a superior experience for customers.”

Through this acquisition, NCR plans to strengthen its sales and marketing capabilities, driving revenue growth across consumer and business market segments.

Terafina founder and CEO Meheriar said: “We are very excited to combine with NCR’s Digital Banking business, which we believe is one of the largest and clearly one of the leading innovators in the marketplace.”

Last month, Atlanta-based NCR signed a definitive agreement to acquire rival ATM operator Cardtronics for an enterprise value of around $2.5bn, including debt.