Intelligent solution for the currency industry

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Posted on 22nd May 2009

Date: Sept 2008

 

7 Layer Solutions of Cheltenham, England, has been selected by Intelligent Currency Solutions (ICS) to develop the reporting and Management Information software associated with their banknote benchmarking systems.

The banknote benchmarking systems have been developed in response to the growing trend by banknote issuing authorities to outsource note circulation and some of the difficulties that have arisen as a result. Benchmarking is a response to the need to establish common standards for productivity, fitness and quality, when notes are being processed by a number of different suppliers using a wide range of different banknote sorting or recycling equipment.

ICS has developed a patent-pending process comprising a suite of detectors, software and support services. The detectors are vendor-independent and will monitor note throughput and quality by denomination according to predetermined parameters which cannot be altered by the machine suppliers or operators. The data is linked via the internet to a reporting package hosted on secure servers managed by ICS which will consolidate the data from each site, shift, machine, customer etc. This data can be accessed by the processing organisation and, in turn, the banknote issuing authority.

ICS has selected 7 Layer Solutions to develop the Banknote Intelligence System component of their solution. ICS Managing Director, Francisco Lopez, says of their choice: 'When it came to choosing a software developer it was an obvious choice. Having used them before I know that there is no more reliable and innovative software company in the cash industry than 7 Layer. They are more than a supplier, they are a partner; they add real value to our solution.'

 

About Intelligent Currency Solutions Limited
Intelligent Currency Solutions (ICS) is a new company that has been formed to provide an independent note quality, fitness monitoring and benchmarking services for banknote issuing authorities and cash processing companies. It is the brainchild of Richard Haycock, founder of Currency Systems International, and Francisco Lopez, formerly of De La Rue Cash Systems and ex-Managing Director of Currency Software Solutions.
ICS is targeting three sectors. First are the central banks, to enable them to gain a detailed understanding of the mix, condition and flow of their currency and compare performances and trends. Second are commercial processors, including CIT companies, which will benefit from a competitive edge in offering outsourcing solutions and which will also avoid arbitrary penalties arising from subjective interpretations of standards. Third are the note suppliers, who will gain a detailed knowledge of what is happening in the market on which they can base their commercial offerings.

Contact: Francisco Lopez, Managing Director
Tel: +44 771 858 0208
francisco.lopez@intelligentcurrencysolutions.com
http://www.intelligentcurrencysolutions.com/

About 7 Layer Solutions
7 Layer Solutions is a specialist software house focussed on the development and delivery of robust and innovative solutions to the cash logistics industry.
The company has undertaken contracts for banks, security companies, suppliers of cash processing systems and commercial companies, including some of the industry’s best known names. We are used to working on commercially sensitive business projects where maintenance of security and confidentiality are essential.
We act as a developer of products for other companies, working closely with the in-house client facing teams to design, develop, deliver and support the software solutions needed by end client organisations such as retailers, commercial banks, cash centres and central banks. We also develop our own range of niche products that we distribute through specialist suppliers of services to the cash logistics industry.
The skill set and experience of its staff are such that 7 Layer Solutions are able to assume responsibility for existing applications, for stabilisation and maintenance, or build new solutions straight from the business requirements. 7 Layer is able to engage in a software project at any stage from initial concept definition through to deployment.

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