LA REVISTA ANUAL DE GUARDIAN LE JOURNAL ANNUEL DU GUARDIAN TẠP CHÍ THƯỜNG NIÊN VỀ GIẤY NỀN GUARDIAN ISSUE 9 2019 THE ANNUAL JOURNAL OF GUARDIAN SPECIMEN: ISSUE 9 From the Editor’s Desk Editorial Team Issue 9 of SPECIMEN centres on the importance of collaboration. In our experience, successful collaboration is not a group of people sitting around a boardroom table and then leaving to work in isolation. It is about working closely with a central bank throughout every step of the banknote journey to provide a bespoke solution. n the Collaboration Issue, we take a look at the Bank of England’s experience moving from paper to Guardian polymer banknotes, and I how it considered feedback from the public and the commercial and Editor retail sectors. The bank has been able to draw on the expertise of CCL Tim Berridge Secure and its other suppliers while it works to deliver a new series. The issue also demonstrates the process and benefits of collaboration Editorial Consultant in case studies from the Reserve Bank of Australia, the Central Bank of Amanda Cirillo Costa Rica and the Reserve Bank of New Zealand, which is celebrating its 20th year of issuing Guardian polymer banknotes. Contributors CCL Secure is committed to continuing to improve the quality and Bradley Booth integrity of banknotes through Research and Development (R&D). We Brian Hayr have recently announced exciting new products with the potential to Brian Lang enhance a banknote’s security or extend its life in the cash cycle. Carlos Almenar Diaz Creating the best possible banknotes, which members of the public Gustavo Ascenzo want to use, is an integral aspect of ensuring the future of cash. Lachlan McDonald The role of cash in a crisis, such as natural disasters, is another example of how cash can continue to be used and valued moving forward. Design As the cash cycle continues to evolve, there is the potential to use data Next: Brand Strategy to inform decision making. This issue also explores how the life span of & Design polymer banknotes is significantly impacted by bank policy, uncovered by by analysing data from years of banknote analysis. Ultimately, a successful banknote project goes beyond the products used. True success is achieved when central banks and suppliers work together to realise the bank’s goals for a new note or series. When stakeholders collaborate, they help solve the challenges a central bank is facing with its cash cycle, as well mitigate risks during the transition process. ™ VIVID Tim Berridge Illuminate the next level of banknote security. A new security feature by CCL Secure Fluorescent brightness. Complete design integration. Life-long durability ELEMENTOS OCULTOS SPECIAL REPORT SPECIMEN: ISSUE 9 SPECIAL REPORT SPECIMEN: ISSUE 9 Contents 1 From the Editor’s Desk FEATURE STORY CASE STUDY SPECIAL REPORT Issue 9 of SPECIMEN centres on the importance of collaboration. The Bank of England’s 22 20 years of Guardian polymer 30 The role of cash in a crisis polymer journey in New Zealand INSIGHT In times of crisis, from a tsunami to a 8 1o years working with the ‘The Old Lady’. Two decades on from issuing its first terror attack, stability of the payments Guardian polymer banknote, the Reserve system is often compromised. 4 Keeping You Notified “I have been working with the Bank Bank of New Zealand is able to manage of England for just over ten years in Counterfeiting decreases by 20% in its cash cycle with improved efficiency Australia in 2017/18. my role as Technical Lead for the bank at CCL Secure, but this is a relatively and effectiveness. Looking into the crystal ball: what could a short timeframe for an institution that future banknote look like? was established in the 1600s, issued Neil Sanders leads CCL Secure’s vision banknotes since 1695 and has been on of innovation. its current Threadneedle Street site in London for some 285 years.” Uruguay’s commemorative Guardian note highlights polymer’s durability. LACHLAN MCDONALD SHARES HIS INSIGHTS INTO THE DECADE-LONG JOURNEY INTO DEVELOPING ENGLAND’S FIRST POLYMER NOTES OPINION CASE STUDY BANKNOTES BANKNOTES 12 Collaborating with banks and 14 Australia’s new $50 note 20 The latest Guardian polymer 28 30 innovations in 30 years banknotes of Guardian polymer BEMs in the cash cycle Achieving success through collaboration and dedication. Throughout 2018, central banks from The year 2018 marked three decades of Why collaboration is key to successfully issuing a new banknote series. around the world issued a number of Guardian’s proven market performance, new banknotes on Guardian polymer with the first polymer banknote issued in substrate. Australia in 1988. Here we present 30 innovations over this time that have contributed to PRODUCT Guardian’s enhanced security, durability and cleanliness, and reduced carbon footprint. 6 Illuminating the next level of security for Guardian banknotes CASE STUDY CCL Secure launches a new substrate- PRODUCT ANALYSIS based security feature, VIVID. 32 A banknote’s connections to 18 New Spartan banknote meets Using data to better manage national identity the needs of low denominations the cash cycle Managing early engagement with external Working with the Central Bank of Costa stakeholders, is one of the challenges A banknote product uniquely engineered In all aspects of life, we tend to Rica on the ₡1,000. central banks face when designing and for the “coin/note boundary”. experience “information overload” issuing a new series. from multiple sources of news and To maximise the opportunity this information. Analysing data from central presents, central banks are increasingly banks, as well as thorough banknote using multi-vendor procurement models. analyses, is fundamental to informed Competitors need to work together decision making. towards a shared objective. BRIAN HAYR EXAMINES THE BENEFITS OF INDUSTRY COLLABORATION 24 2 3 SPECIMEN: ISSUE 9 KEEPING YOU NOTIFIED SPECIMEN: ISSUE 9 INSIGHT Keeping You Notified Counterfeiting decreases by CCL Secure’s Director of 20% in Australia in 2017/18 R&D, Marketing and Design, Tim Berridge, said: “It’s proven that Following the introduction of Next Guardian polymer is incredibly Generation Banknotes on CCL secure. We always see counterfeit Secure’s Guardian polymer, Australian rates fall when central banks switch counterfeiting rates dropped from cotton paper to our polymer significantly in 2017/18. substrate, or when they upgrade their banknotes with the latest round 26,000 counterfeits with security feature technology like the a nominal value of AUD$1.7 Reserve Bank of Australia has.” A million were detected in Australia’s level of circulation, equating to around 16 counterfeiting remains relatively counterfeits detected per million low by international standards, genuine banknotes. These figures largely thanks to the high-security represent a 20% reduction from Guardian banknotes, as well as the previous year. the Reserve Bank of Australia’s The $50 note was the most diligence in currency management counterfeited (59% of the total), and work with law enforcement followed by the $100 note (37%). agencies. These numbers are expected to decrease further with the new $50 issued in October 2018, and the new $20 and $100 launching in Source: Reserve Bank of Australia following years. (RBA) Annual Report 2018 Looking into the crystal ball: Diaz said he was intrigued by CCL Secure’s Senior Banknote Designer created a concept for what The commemorative $50 on Guardian celebrates the Central Bank Counterfeits detected in circulation (ppm), 2005–2018 what could a future banknote the concept of time when thinking a future banknote could look like of Uruguay’s 50th anniversary look like? about the future. 35 “Previously, time had no CCL Secure’s Senior Banknote numerical value and was 30 Designer, Carlos Almenar Diaz, understood based on the sun and entered the 2018 World Banknote stars. Now, many cultures measure 25 Project (WBP) run by the time using the constraints of iconography of a female face substrate, as well as colours that Uruguay’s commemorative Guardian note International Banknote Designers seconds, minutes, hours. portraying humanity, a flower react to infrared camera. Association (IBDA). While the “I asked the question, ‘what does representing the change in seasons, For Diaz, effective banknotes highlights polymer’s durability 20 world is experiencing a fundamental time mean?’, to a number of people a wormhole and infinity symbol. of the future will be developed in transition in the use of cash, the and it was interesting to uncover The design integrates a range collaboration amongst industry To celebrate its 50th anniversary, the Central Bank of Uruguay (CBU) 15 WBP aims to encourage designers that time has a different meaning of high-tech visible security groups, as well as the public. to express their visions of how future to different people. For some, time features, including windows, “Banknotes of the future will issued a commemorative 50 pesos banknote in September 2018, its banknotes could look and function. was viewed as a human construct, colour-changing inks, intaglio be highly secure and aesthetically first note on Guardian polymer substrate. 10 while others related it to natural printing, micro-lettering, metallics, striking. To make this a reality, iaz developed a cutting-edge phenomena like seasons and life fluorescent printing and more. designers, R&D teams, printers, ne side of the Uruguayan than paper equivalents and more 5 concept that provides a glimpse cycles,” said Diaz. Machine-readable features include product engineers, managers, and 50 pesos celebrates the inclusive for people with low into how he believes a future His WBP concept represents invisible white pigment, visible customers must all continue to D O bank’s proud 50-year history vision thanks to its distinct size banknote could be designed. these ideas through the white UV printed in the polymer collaborate,” concluded Diaz.