Currency App by G+D Currency Technology Wins Central Banking Award
The Currency App by G+D Currency Technology won the Central Banking Currency Innovation Award. The award “highlight[s] the outstanding performance and achievements of individuals and organisations within the central banking community”; the jury was particularly impressed by the apps innovative impetus, establishing best practice and helping “ central banks to improve their educational outreach efforts to bolster the vitally important issue of national currency security.” The award ceremony will take place mid-March in London.
The App, usually provided free of charge by central banks via both the Apple App Store and the Google Play Store, can be downloaded on the smart phone by the general public usually free of charge. The core functionality of the App is the instruction of the public with regard to the security features of the respective currencies, including simulations of dynamic features such as see-through windows, optical foil and security thread or a magnifying glass application.
Digital partner for the industry
The launching of G+D Currency Technology Currency App, a modern digital communication channel for central banks, is usually linked to the introduction of a new series of banknotes. “We are very pleased about this award as it recognizes Currency Technology’s strong track record in digital solutions for the currency cycle and the currency industry”, said Dr. Wolfram Seidemann, CEO of G+D Currency Technology. “This is a great example of our Advanced Currency Management, combining the best of the physical and the digital world. Banknotes are a part of modern life, and new technologies, such as our App, keep them attractive.”
Functions of the App
Seidemann went on to explain that public engagement through a tangible banknote experience created awareness for currency as the global number one choice of payment. The overall security of currency in circulation was significantly increased by a deeper knowledge and understanding of embedded security features presented in a very intuitive way, accessible to all levels of education and still leaving it to the user to make the authenticity decision. The next step, he said, was the integration of an augmented reality module into the App, enabling 3D story-telling tailored to the specific banknotes and culture of a country.
References of genuine features are made available as templates, also offline, empowering the consumer to check banknotes in every-day situation as no further devices need to be carried along. The Currency App comprises many interactive functions simulating real-life look-feel-tilt verification. The gyro sensor of the phone, for example, is connected to the App. This way, dynamic security features, such as RollingStar® and other optically variable features, react to hand movements with the phone as they would do in real banknotes. Or micro letters on the note, used in offset printing, will react on the display when touched; additionally, a loupe function pops up, allowing a detailed view of the background print. Or moving the finger over intaglio print will cause the phone to vibrate, simulating the rough surface of an intaglio print. The App also enables central banks to directly link to social media such as Facebook, or Twitter.
Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich, Germany. Founded in 1852, the Group has a workforce of 11,600 employees and generated sales of approximately EUR 2,14 billion in the 2017 fiscal year. 72 subsidiaries and joint ventures in 32 countries ensure customer proximity worldwide.
G+D develops, produces, and distributes products and solutions for secure payment, connectivity, identity and digital security. G+D is a technology leader in these markets and holds a strong competitive position. The Group’s customer base mainly comprises central and commercial banks, mobile network operators, business enterprises, governments, and public authorities. For more information, please visit: www.gi-de.com.