Innovative Technology receives ECB approval for its banknote validation technology

Innovative Technology’s banknote validators have received ECB approval for their ability to recognise genuine and counterfeit Euro banknotes. It’s NV9 USB+, NV10 USB and NV200 banknote validators were tested at De Nederlandsche Bank in Amsterdam and all achieved 100% in the test.

Dr Matt Strong, Research Manager at Innovative Technology commented: “Our banknote validators have again identified 100% of the genuine and counterfeit Euro banknotes. This is particularly pleasing as it’s the first ECB test to includeSPF3 technology, our next generation banknote validation algorithms, whichutilises much more real banknotedata than previous versions.”

“We’reconstantly developingour mathematical techniques and global currency datasets to ensure we remain at the forefront of validation technology, so it’s great to receive this independent certification from the ECB.”, he added.

SPF3 contains Innovative Technology’s latest banknote validation algorithms, extracting features from more data points than ever before to quickly and accurately distinguish genuine from counterfeit notes. This update in SPF technology increasesthe resilience of Innovative Technology’s products to counterfeitbanknoteswhilst maintaining their industry leading speed and accuracy.

The test results, which are published by the ECB to assist banknote users when selecting appropriate counterfeit detection equipment, can be foundonline here (https://www.ecb.europa.eu/euro/cashprof/cashhand/devices/html/results.en.html).

Innovative Technology will issue new Euro dataset slater this month containing the new €20 banknote which is due to enter circulation on November 25, providing customers across Europe sufficient time to update validators in the field.