Note Validator for Any Currency

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By Marcus Tiedt, Managing Director, Automated Transactions/ Innovative Technology Group
 
Innovative Technology was founded back in 1992 with one purpose- to be the world's largest supplier of automated payment products, in particular bank note payment and note validators. Since the early days, when the radical NVI was introduced- the world's first true multi currency note valiadator, Innovative Technology has steadily gorwn its market share. Now there are 1.7 million Innovative Technology note valiadators in over 80 different countries around the world, with an annual output of 200,000 units er year and still growing.
 
Innovative Technology did this by concentrating on one question: what do customers want from a note acceptor? There are three obvious answers- accept all the real notes, reject all the false notes and never be fooled by thieves.
 
But there is another role that is even more important in the long run- trust in the company that provides the equipment. All note validator manufactureres will claim that their products are the most reliable, have best acceptance rate, etc etc. However few can prove it and more importantly, eve the best get caught out occassionally by fraud of some kind- that's when you find out if you invested wisely in your chosen paymwnt system company.
 
Innovative Technology has grown its business with three key tenets: gete the best technology available (sensing, mathematics, design, and process control); use the knowledge to make the best value for money product possible (very high performance, low costs, and high reliability); and sell and support the product through close direct sales to the manufacturer, distributor and operators of automated payment products, i.e. know the customer and help the customer.
 
What's the Best Technology?

Innovative Technology has found that there are over 65 different physical phenonmens that can be utilised to test a bank note. But the practicality at this time is that optical technology with multiple wavelengths gives the best value for money and long-term stability. The more exotic methods, such as magnetic and capacitive techniques, tend to be easily overcome by fraud and do not justify the extra costs. Innovative Technology use super computers running space programme- derived mathematics to create a definition of a bank note. The mathematic principles used to recognise money was originally used to find planets orbiting distnat stars.
 
The supercomputer whirs away in the background and in less than an hour creates a mathematical model of a currency that a human would take millions of years to define. The supercomputer individually tests hundreds of examples of the desired bank notes against examples of all other known notes, both real and fraudulent, from around the world. The process repeats until the computer is satsified that only the right notes will be accepted. The final mathematical model can then be utilised by a low cost, yet very powerful, microprocessor in the note validators to recognise 99% of real nbank notes first time, and reject all known false or fraud objects.
Innovative Technology note validators are the only ones that do truly global- for example a United Kingdom currency- English, Scottish and Northern Ireland, or Euro-Hungary- all notes, all faces, all ways in one unit. To utilise all this technology, Innovative Technology has pioneered the use of advanced engineering plastics, utilising the best available design and production techniques in all our assembly plants.
 
Innovative Technology has subsidiary sales and service companies int the USA, Brazil, Columbia, Germany, Spain, and China- the Automated Transactions group of companies. The staff at Automated Transactions worldwide concentrate on providing the highest level of customer service, regardless of the size of the customer and can discuss an application in over 14 languages.