Currency Production – Currency Planning, Production and Monitoring
Thursday, 8 February 2018
Free to attend for any Europe Cash Cycle Seminar (ICCOS) delegate.
8:45 – 12:30
From its initial inception the process of designing, producing and distributing currency has a huge impact throughout the cash cycle. Decisions taken by an Issuing Authority must ensure that the public is left with access to secure currency.
In this half day session delegates will gain insight from a range of Issuing Authorities on how they implemented of their new currency series and what were the lessons learned that can be applied to future series from a design and implementation as well as industry and public engagement point of view.
In addition, leading crime authorities will provide an update on counterfeiting threats and trends ensuring Issuing Authorities have their information they need to stay several steps ahead of the criminals.
The Polymer Journey From a U.K. Commercial Banknote Issuer
As a commercial banknote issuer, Royal Bank of Scotland (RBS) had not issued a new series of banknote since its Ilay series in 1987, individual commemorative banknotes aside. During 2014, RBS embarked on a programme to replace its £5 and £10 banknote with a series of new designs issued on a polymer substrate. Firstly the Nan Shepherd £5 (issued in 2016), followed by the Mary Somerville £10 (2017).
by Adam Bailey, Head of Cash Operational Strategy – Cash & Self Service Operations, Royal Bank of Scotland
Let us lead you through the challenges we faced as a commercial banknote issuer and what drove us to breathe new life into one of our most important customer interactions. Discover the strategy we took in approaching design, security feature choice, launch, what consideration was given to the future of cash, supply chain, consumer trends, and how we were able to complete the project and issue the note in a relatively short and challenging timescale.
Learn how these new banknotes have been received and how RBS has collaborated with the other commercial banknote issuers in Scotland to manage an effective and efficient change. Also hear about the future plans for Ulster Bank banknotes, and how we see the adoption of polymer banknotes being received.
Adam Bailey is Head of Cash Operational Strategy - Cash & Self Service Operations for Royal Bank of Scotland (RBS). He has 16 years of experience in the cash and ATM marketplace, and is accountable for the Bank’s cash industry and regulatory compliance. Adam leads RBS and Ulster Bank’s cash strategy, including the design, issuance and circulation of RBS and Ulster banknotes, through to the wholesale cash processing operation.
Transitioning to Polymer Banknotes
In 2016, the Bank of England launched its first polymer banknote - a £5 denomination featuring Sir Winston Churchill - and has since launched a new polymer £10 featuring Jane Austen. Toby Davies will discuss the Bank’s transition from paper to polymer from design, to distribution, to destruction and will reflect on how these new series notes are the most innovative, environmentally sustainable and accessible ever produced by the Bank. The presentation will highlight the issues associated with polymer and cover the extensive industry engagement work and the challenges faced in preparing the country for new notes, on a new substrate and of a new size.
by Toby Davies, Head of Banknote Resilience, Bank of England
Toby Davies is Head of Banknote Resilience at the Bank of England with responsibility for the production of Bank of England banknotes and its anti-counterfeiting strategy. Previously, he was responsible for the operation of the Bank’s Real-Time Gross Settlement (RTGS) payment system and its securities operations. Toby has also worked at Euroclear UK and Lloyd’s of London.
Evolution of Georgian Banknotes
This presentation describes the decision-making process and some of the policy considerations behind the design and launch of upgraded banknotes in Georgia, from the perspective of the National Bank. These range from the early stages of selecting the main trends to the development of an information campaign and the process of getting the market ready for accepting the new banknotes. This presentation will cover the following main topics:
by Aleksandre Kochiashvili, Head of the Cash Operation and Cash Circulation Department, National Bank of Georgia
- Organization and planning;
- Designing and development;
- Procurement management and procedures;
- Production and delivery;
- Unveiling and Preparation;
- Issuance; and,
- Current challenges and future plans.
Mr. Aleksandre Kochiashvili has 10 years of experience in the field of Cash Operations. Since 2012 he has been Head of Department of Cash Operation and Cash Circulation at the National Bank of Georgia. With the goal to develop and reform the automatization of the Bank’s cash operation, he has taken part in a number of projects including the foundation of the basic banking system, as well as the formation and implementation of the Bank’s cash management system.