Leading cash handling equipment manufacturer Innovative Technology Ltd (ITL) is pleased to announce Bank of England (BoE) certification for their note validator range.

The NV9 Spectral & NV200 Spectral, NV9, NV10 and NV200 banknote validators all received a 100% result for their ability to accept authentic banknotes and reject counterfeits. The test was conducted using notes from all GB issuing banks, from England, Scotland and Northern Ireland.

Andy Bullock, Senior Business Development Manager commented, “Having just launched the NV9 Spectral at ICE 2018, this is the first time our newest unit has received Bank of England approval. The 100% result demonstrates the high-level of security and reliability of our products. We value the importance of collaborating with the BoE. Their support allows us to ensure our currency datasets are always up to date, something which has been even more important recently with the introduction of the new polymer banknotes. We will ensure that the new polymer £20, due to enter circulation in 2020 is incorporated into our GBP currency dataset well in advance of its introduction through our co-operation with the BoE.”

The full results for the testing of automatic banknote handling machines can be found on the BoE website here.

Leading cash handling equipment manufacturer Innovative Technology Ltd (ITL) headquartered in Oldham, Greater Manchester, are celebrating today after being named recipients of the Queen’s Awards for Enterprise: International Trade 2018. The Queen’s Award is the UK’s highest accolade for business success and ITL join an elite group of companies, recognised this year as deserving winners.

Managing Director, Peter Dunlop commented, “We are honoured to receive this award for International Trade which recognises our outstanding growth in overseas sales over the last three years. This is the Company’s 5^th Queen’s Awards in our 26-year history, having previously won in 1997, 1999, 2014 & 2017. We are extremely proud of this achievement, the award this year recognises our sustained global expansion and outstanding growth in overseas trade and exports.”

The Queen’s Awards are one of the most prestigious business accolades in the UK and are only awarded to companies demonstrating the highest level of excellence. The winners are published each year on the 21^st April, Her Majesty The Queen’s birthday and are valid for five years.  This year Queen’s Awards have been announced for outstanding business achievement in the fields of International Trade, Innovation, Sustainable Development and Promoting Opportunity through Social Mobility. As a Queen’s Award winner, Innovative Technology can expect an invitation to attend an exclusive reception at Buckingham Palace, hosted by Her Majesty The Queen later this year.

David Bellis MBE, Founder and Chairman of ITL commented, “This is a historic time for Innovative Technology, we are experiencing a significant, sustained period of growth globally, which has allowed us to increase our operations and expand our product range; cementing our position as a market leader in our field. We now have 10 worldwide offices and a host of international trading partners, enabling us to flourish, with substantial year-on-year growth. We are thrilled to receive this latest accolade to add to our rising list of Queen’s Awards and look forward to yet another successful year of International Trading.”

Innovative Technology (Asia Pacific) Pty Ltd are pleased to welcome Scott McLennan, Business Development Manager, who will be based at the organisation’s APAC office in Queensland, Australia. Scott joined the organisation in January 2018 and is responsible for developing new business with a specific focus on Australia and New Zealand.

Commenting on his role Scott said, “Innovative Technology’s long-term stability and the strategic company direction attracted me to apply for the role and I am delighted to be working for such a forward-thinking, innovative organisation. I am responsible for supporting our existing customer base, identifying business opportunities and developing Trading Partners across the region.  I am excited about exploring new opportunities and growing our customer base and market share in these important areas.”

Kerry Cowan, Sales Director - Asia Pacific, commented “APAC is a huge territory, so we wanted to bring onboard someone to concentrate solely on Australia and New Zealand. I look forward to working with Scott to raise our profile and grow our customer base in these countries which are key for us.  Scott has a background in customer facing roles and direct sales from previous positions, so I am confident he will be able to draw on this experience to successfully build our customer base and market share in Australia and New Zealand.”

Innovative Technology will showcase some of their state-of the-art products at the Retail Risk management conference which takes place on 26^th April at the Novotel London West. This will be closely followed by RBTE – Retail Business Technology Expo, which takes place a week later, 2-3^rd May 2018.

The leading provider of cash handling technology will have a select sample of their products on display that will be attractive to the big retailers such as SafeCash Collect, Twin SMART Coin System and NV200 Spectral.

Paul Curley, Senior Business Development Manager commented, “We look forward to having a presence at both shows and using them as an opportunity to network with some of the leading retailers in Europe.  We are particularly excited to be showing SafeCash Collect. This utilises our NV200 banknote acceptor to authenticate, count and store cash and is connected to our cloud-based data and reporting software ‘Live Collect’.  This product is ideal for the retail market as it eliminates shrinkage, reduces cash in transit (CIT) collection costs and maximises cash handling efficiency. This closed-loop cash management solution will bring real benefits to the industry especially in terms of reducing risk and fraud. The tamper evident cashbags each have a unique barcode for full audit traceability, identification and tracking purposes to help retailers eliminate shrinkage and accounting errors.”

Paul continued, “We will also have on display the latest addition to our SMART range, the Twin SMART Coin System which combines a state of the art bulk coin validator, 2 x mixed coin hoppers & recyclers in one. Boasting a large coin capacity and payout speeds of us to 24 coins per second the unit validates, discriminates and stores mixed coins, eliminating coin starvation & the need for multiple hoppers.”

Delegates to the conference and RBTE will also be able to test out ITL’s NV200 Spectral – the most technically advanced note validator in its class. The NV200 Spectral is a highly secure and technologically advanced banknote validator. State of the art spectral sensors offer complete note image capture (highest spectral coverage) to authenticate the validity of notes. The unit boasts 99%+ first time acceptance of new and street grade notes with a note to note processing time of 2 seconds.

Paul concluded, “Retailers at the shows will be impressed by our modular approach to product design which allows for the addition of an add-on note recycler. Our products incorporate integrated security and fraud protection features and we look forward to explaining the various  benefits of our key retail products at the 2 London shows. Come and see us at Retail Risk, stand 8 and stand A125at RBTE.”