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Over the next two years we will see the introduction of polymer banknotes and a new twelve sided £1 coin in the UK with new material, designs and security features. CirculationDue to enter circulation September 2016, the new £5 note will feature Winston Churchill and will be the first plastic banknote to be issued by the Bank of England. The following year, March 2017 will see the Royal Mint issue a new £1 coin, something which has been widely spoken about because of its unusual 12 sided design, which might remind those of a certain age of the old threepenny bit…

Innovative Technology Ltd. (ITL) is pleased to announce the arrival of Saša Kragulj as Business Development Manager. Saša will be  based in Prague and will oversee ITL’s growth in the Czech Republic, Slovakia, Poland and Hungary.Saša has a wealth of experience within the cash handling industry, having held Sales and Project Management roles for a number of organisations. Saša made the move to ITL at the beginning of 2016.Saša commented on his new position “I am very excited to be working for ITL, I have worked in the industry for a number of years now, so I understand just what…

Innovative Technology Ltd.’s (ITL) banknote validators have received independent validation from the European Central Bank (ECB). The ECB grants approval to validators that can successfully recognise the difference between genuine and counterfeit banknotes. ITL’ NV9 USB+, NV10 USB and NV200 all received 100% during testing in Amsterdam at De Nederlandsche Bank.  Ben Wright, Lead Currency Support Engineer, said “Once again, we are very proud to have passed the ECB’s strict testing process with flying colours. 100% of the genuine notes were identified and accepted by our validators. As with last year, our validation products included SPF™3 technology, our next generation banknote…

Production of the new £1 coin began yesterday as the Chancellor, George Osborne announced it will enter circulation in March 2017. The current £1 coin is being replaced for the first time in over 30 years because of its vulnerability to sophisticated counterfeiters. The new £1 to be issued from March 2017 will be a 12-sided, bi-metallic, bi-colour coin with milled edges. It will weigh 8.75g and will have a diameter of 23.43mm from point to point (23.03mm edge to edge). The edge thickness will be 2.8mm and the metallic composition is: nickel-brass outer; nickel-plated solid alloy inner. When the new £1 coin enter circulation during…

Innovative Technology Ltd (ITL) is pleased to announce the appointment of a new trading partner based in Mexico, Qualmex. Well established in the Retail and Transport Market in Mexico, Qualmex will distribute Innovative Technology’s state of the art currency validation, recycling and ticketing product range. Qualmex is perfectly placed to assist Innovative Technology’s expansion across the Americas and will provide local support to customers, whatever their cash handling requirements. Ramón Gutierrez Silva,Commercial Director, Qualmex “We have just returned from a week of intensive product training at Innovative Technology’s UK Head Office. Their product range is ideal for the market here and very…