Innovative Technology Ltd. (ITL) are pleased to announce independent approval from the Bank of England for their NV200 Spectral note validator during the Bank’s recent testing of automatic banknote handling machines. The Bank of England machine–testing framework enables manufacturers to test their machines with circulation and artificial counterfeit banknotes to ensure they only accept genuine banknotes.
The NV200 Spectral is a highly secure and technologically advanced banknote validator; using ITL’s hyperspectral technology to offer complete note image capture to authenticate the validity of notes.
James Beswick, Customer Support Manager for ITL commented on the results, “We are proud to have passed the Bank of England’s strict (MTF 2.0) testing process this year and been awarded a Gold Standard approval – the highest level given. The results independently acknowledge the reliability of our NV200 Spectral for its ability to identify genuine banknotes and reject counterfeit notes and we are delighted with the 100% pass granted.”
“Across our whole product range, we are constantly developing our global currency dataset files to ensure we maintain our leading acceptance rates. Customers can always download the latest files from our website free of charge.”
Every month, the BoE publish the test results and an updated list of models and software versions that meet their standards. The test results are published to help business make informed choices about the counterfeit detection equipment most suitable for their needs. The full listing of the test results can be found on the Bank of England website here.