Innovative Technology Ltd. (ITL) are pleased to announce that they have successfully passed the Bank of England rigorous testing for a number of their cash handling devices. The NV200 Spectral achieved the highest Gold Standard; the only validator in its class to do so. The Bank of England framework enables manufacturers to test their machines with circulation and artificial counterfeit banknotes to ensure they only accept genuine banknotes.

James Beswick, Customer Support Manager for ITL commented on the results, “Following our recent visit to the Bank of England for our yearly testing, I am proud to report that all the validators we tested have passed. NV200 Spectral has been awarded Gold Standard, while NV9 Spectral, NV200, NV9 and NV10 were all awarded Silver Standard on the Bank of England approval list.”

Continuing James said, “We are particularly pleased with the Gold Standard for the NV200 Spectral which is the highest level awarded, making it the only validator in its class to achieve gold standard.   These results independently acknowledge the reliability and security of all our banknote validators and their ability to identify genuine banknotes and reject counterfeit notes. The 2024 machine testing framework has been expanded this year with the addition of the new King Charles notes, so this achievement reflects our capability to provide validators with only the highest level of fraud protection.”

“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.”

The BoE publish the test results to help business make informed choices about the counterfeit detection equipment most suitable for their needs. The full listing of the test results and devices can be found on the Bank of England website here.