Bradford tech firm gears up to change in UK monetary system
VerusT H is a small, USB stick-sized, hand-held device designed for use within retail and general commerce as a method of detecting suspect and counterfeit currency.
The device will go into use from 2016 when the UK begins a conversion to more durable polymer notes, similar to those used in Australia and 23 other nations.
Francisco Lopez, MD of Innovia Systems, explained: ""We approached ADI to develop the product from the basic design stage through to production and we are delighted with the outcome.
""VerusT H is being marketed globally to all nations that use polymer notes, however it will be available in the UK from the end of the year. It will ensure that retailers don�t suffer from loss of revenue by identifying suspect notes immediately at the point of sale.�
Not since the conversion to decimal currency in 1971 has there been such a major change to the monetary system in the UK. Here at ADI we are proud to have played an important role in such an historical event.
GEORGE BYSTRYAKOV, ADI�S DIRECTOR OF ENGINEERING
""We got involved in the project around two years ago and it has evolved into ongoing research and development liaison with Innovia.
""The end result is a device that will act as a reliable deterrent against fraud. We are all about creating ingenious solutions which is exactly what we have done here,"" added George.
ADI was founded in 2006 as a research and development innovation agency by Yorkshire Forward. In 2010, with the disbandment of Yorkshire Forward, the company became independent and has gone on to win a host of awards for its work in technology and healthcare with private and public sector clients around the world.
ADI (Advanced Digital Institute), a Bradford-based technology research and development company has developed a new, anti-fraud gadget in conjunction with Cumbria-based Innovia Systems.Thursday, August 13, 2015"