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©Note Printing Australia Limited 2004

The Polymer Note Story - R&D Lessons Learnt. ©Note Printing Australia Limited 2004. 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.

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©Note Printing Australia Limited 2004

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  1. The Polymer Note Story - R&D Lessons Learnt ©Note Printing Australia Limited 2004

  2. 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

  3. 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

  4. ©Note Printing Australia Limited 2004

  5. Cross sectional schematic view of Polymer Banknote ©Note Printing Australia Limited 2004

  6. Counterfeit Statistics The introduction of polymer banknotes generated a landmark reduction in counterfeiting ©Note Printing Australia Limited 2004

  7. 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

  8. Key Relationships ©Note Printing Australia Limited 2004

  9. Development of the FormalisedR&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

  10. Development of the FormalisedR&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

  11. Before After ©Note Printing Australia Limited 2004

  12. ©Note Printing Australia Limited 2004

  13. Reaction of the BanknotePaper 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

  14. 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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