Innovative Pvt Ltd has introduced Giesecke & Devrient's (G&D) Note Processing Solutions in Pakistan to facilitate the banks for compliance with State Bank of Pakistan's (SBP) clean note policy.
Innovative has become pioneer in introducing the top rated German Manufacturer - G&D technology for the commercial banks in the country. This technology will allow banks to capture counterfeit currency and helps keep good currency clean notes in circulation.
"Manual sorting and cash processing poses risks and results in inefficiencies; these problems can be overcome with G&D's Note Processing Solutions," Chief Executive of Innovative Naveed Ali Baig said on the sidelines of the summit.
Innovative organised a banknote conference titled "Future of Currency Processing in Pakistan" on Tuesday at a local hotel to introduce the latest note processing solutions for banks operating in Pakistan.
Addressing the summit, Saleemullah and Taslim Kazi, Directors of State Bank explained the objectives behind their latest initiative of automation of currency processing.
Taslim Kazi, Director General Services Division, State Bank briefed the audience on how SBP is working to adopt the modern technology when it comes to Banknote processing. He said, "it took us 10 years to be convinced by G&D that modern technology is the need of the hour when it comes to currency processing and that how all the South Asian and developing countries are adopting technology to curtail the menace of counterfeit currency."
He informed that SBP had installed G&D's - state of the art machine - BPS M7 in its Karachi office and will be deploying it in other major cities of the country in the next phase.
During the conference several leading technology experts from G&D Germany gave presentations on the best practices and global trends on the currency processing. Nader Kashgari and Kashif Ahmad of G&D also spoke, respectively, on the company's banknote processing system and management solutions.
Innovative Pvt Ltd has a history of introducing modern technology of optimal operations in banking industry and has partnered with world leading companies including Giesecke & Devrient, Wincor Nixdorf and APC by Schneider Electric.
G&D is a leading global provider of high-performance banknote processing systems ranging from end-to-end solution based software to high-tech note sorting machines like Numeron, BPS C1 and BPS C4. With Habib Bank taking the lead by deploying multipurpose BPS C4, at least two to three other banks are also engaged with IPL.
With Numeron, BPS C1 and BPS C4 on display at the seminar, Naveed Ali Baig said G&D products and solutions would enhance the banks' efficiency to count, authenticate, sort, pack and issue billions of rupees currency bills in the shortest possible time with complete authenticity, accuracy and efficiency.
Comments
Comments are closed.