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©Note Printing Australia Limited 2004 The Polymer Note Story - R&D Lessons Learnt
Outline History - The Polymer Note The Current Situation Development of the Formalised R&D Effort Reaction of the Banknote Paper Suppliers The Future ©Note Printing Australia Limited 2004
History - The Polymer Note The 1966 $10 Counterfeit The involvement of the CSIRO Commercialisation The 1988 Bicentenary Note The conversion of the remaining paper notes to polymer ©Note Printing Australia Limited 2004
Cross sectional schematic view of Polymer Banknote ©Note Printing Australia Limited 2004
The introduction of polymer banknotes generated a landmark reduction in counterfeiting ©Note Printing Australia Limited 2004 Counterfeit Statistics
The Current Situation Since the introduction of the polymer notes in Australia movement into the world market has prompted a re- assessment of relationships. This has led to the development of a specialist substrate company (Securency Pty Ltd). Securency is part owned by the Reserve Bank of Australia and UCB. ©Note Printing Australia Limited 2004
Development of the Formalised R&D Effort R&D Effort on Security Documents across all three companies is driven by a Joint Technical Committee (JTC). Care has been taken to draw up a charter for the JTC which deals with Intellectual Property issues. All research and development activities are formalised with the need for strict use of laboratory note books. All concepts are protected with provisional patents - all patents are categorised according to their significance in our overall strategy. ©Note Printing Australia Limited 2004
Development of the Formalised R&D Effort (cont’d) R&D strategies are revisited and modified every year. Key strategies for calendar year 2003 –Concentration on overt security features –Concentration on Intellectual Property –Key alliances –Novel systems for development of concepts ©Note Printing Australia Limited 2004
Before After ©Note Printing Australia Limited 2004
Reaction of the Banknote Paper Suppliers As polymer substrates become more universal, paper suppliers have reacted extremely aggressively. As anticipated, they have attacked us on: – The Intellectual Property front –At Conferences –In front of our customers –The Reserve Bank’s counterfeit and life statistics However, they have not attacked us on recycling issues. ©Note Printing Australia Limited 2004
The Future Expenditure on R&D exceeds $2 million per annum. This will continue at this figure or greater. We will continue to explore appropriate alliances. We will continue to be the world expert on polymer note technology, and via alliances to link with world experts in other security related areas (e.g. Biometrics, etc). We will continue to employ scientists who display conceptual thinking and are methodical. We will continue to concentrate on overt security features. ©Note Printing Australia Limited 2004
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