Cash Cycle Becoming Increasingly High-tech
Munich, May 15, 2017 – The former Giesecke & Devrient Banknote business unit made its debut as the Giesecke+Devrient Currency Technology independent subgroup at this year’s Currency Conference, where it focused on new banknote security features and Industry 4.0 solutions. The Currency Conference is the largest industry event in the banknote sector.
Giesecke+Devrient Currency Technology demonstrated two new security features: the three-dimensional Galaxy® high-security thread and the varifeye® ColourChange foil window. Dr Wolfram Seidemann, Chairman of the Currency Technology Management Board, described these as “beautifully bringing together outstanding security with exceptional aesthetics” at the Currency Conference, which took place in Kuala Lumpur from May 15 to 18, 2017. “Keeping cash both secure and attractive in equal measure has resulted in it continuing to be an integral part of modern life. Banknotes are, by a distance, the most secure payment method worldwide.”
The European Central Bank’s most recent study into the security of the euro, for example, demonstrates that the probability of physically holding a counterfeit banknote is around 0.00019%. Dr Seidemann: “Stable currency systems need cash just as much as they need digital or mobile payment methods. This means we also need to take advantage of the opportunities offered by Industry 4.0 and digitization to make the cash cycle increasingly efficient.”
The new Currency Technology security features – the three-dimensional Galaxy® high-security thread and varifeye® ColourChange foil windows – are very complex, high-tech products that also rely on intuitive perception. A combination of micro-mirror and ColourShift technologies enables optically variable effects that can be integrated into or applied onto the substrate. Even inexperienced observers are able to perceive the dynamic color shifts and movement effects apparent when the banknote is turned, no matter how poor the lighting.
These days, the challenge of designing a new series of banknotes is in meeting the requirements of ordinary citizens as well as those of professional participants in the cash cycle, explained Dr Seidemann. Banknotes must be as visually appealing as they are functional, and fit smoothly into the cash cycle. All security features must therefore be harmonized with one another as much as possible, so that simple authentication and the best possible machine readability are guaranteed.
Currency Technology is the only operator worldwide to cover the entire banknote value chain. Dr Seidemann: “We continuously see and understand what is required at each individual phase and stage of the process, which means we can continually improve the cash cycle. We do this not just with our security solutions, but also with our products for efficient cash management. This includes our high-performance systems that can check, sort, and process up to 130,000 banknotes per hour, our powerful tabletop systems, and also our Industry 4.0 solutions, such as remote access management.”