NCR Atleos (NATL)

Its core business revolves around ATMs, interactive teller machines, software, managed services, maintenance, and transaction-processing capabilities. These products help financial institutions operate branch-light banking models, extend cash access beyond traditional branches, and support customers who expect banking services to be available across multiple locations and channels. NCR Atleos also owns and operates the Allpoint network, a large surcharge-free ATM network used by banks, fintechs, prepaid card providers, and other financial services companies to give cardholders broad access to cash.

The company reports through Self-Service Banking, Network, and Telecommunications and Technology segments. Self-Service Banking is its largest revenue contributor and includes ATM hardware, software, installation, and support services. The Network segment includes Allpoint and related ATM-as-a-service and transaction network activities. Telecommunications and Technology provides managed network and infrastructure services to enterprise clients.

NCR Atleos generates the majority of its revenue in the United States, although its technology and services are used internationally. Its investment case is tied to the continuing role of cash, banks’ efforts to reduce branch costs, and the shift toward outsourced ATM fleets and integrated self-directed banking solutions.