In a world where every dollar counts, Addison-based company Authentix is transforming the way cash is processed. The global authentication company’s new CDI2 banknote detectors are poised to revolutionize the efficiency of currency processing at high speeds, offering a glimpse into the future of secure transactions.

Authentix says it’s successfully developed the first-ever CDI2-compliant banknote detectors using its innovative solution called GemVision, according to a news release. As banknotes zip through high-speed processing machines, the new detectors provide unprecedented information about each bill.

The technology could transform how cash is processed with a faster and more accurate assessment of banknote quality.

What is CDI2?

The Common Detector Interface 2 (CDI2) is a standard jointly established by the U.S. Federal Reserve and the European Central Bank for banknote sorting machines and detectors.

With the introduction of the CDI2-compliant banknote detectors, Authentix brings more accuracy and speed to the process of detecting features and assessing the fitness of banknotes. The new platform enables the sorting of suspect banknotes for additional inspection while automatically eliminating those that fail to meet fitness standards.

Called GemVision, the technology is the result of a collaboration between Authentix and Boulder Imaging, Inc., a Colorado-based company specializing in machine vision and inspection solutions.

In 2018, the Federal Reserve Bank of San Francisco contracted with Authentix to design, develop, and manufacture CDI2-compliant detectors on behalf of what is now Federal Reserve Financial Services, according to the news release. A camera system and fitness solution was part of the deal, some of which have now moved into commercial manufacturing.

Authentix said the project was “delivered on schedule,” and looks for the GemVision technology to be deployed in the Fed’s cash processing centers across the U.S.

Central Banks embrace the future

The potential impact of CDI2-compliant detectors extends beyond individual financial institutions. Central Banks worldwide are expected to adopt this groundbreaking technology in the coming years, which could improve cash processing standards and streamline operations.

The CDI2 standard also allows Central Banks to choose detectors from different suppliers, giving them more options and control. According to Authentix, it’s expected that most Central Banks around the world will adopt this standard in the next few years.

With the flexibility to select detectors from multiple suppliers, Central Banks can optimize their processing environments and make informed decisions to ensure the best detection platforms.

New CTO named in December

Tim Driscoll, PhD

Authentix appointed Tim Driscoll as the company’s new CTO in December to drive research, innovation, and new product development.

Driscoll has a notable background within Authentix, having served as SVP and GM for the Authentix Currency and Tax Stamp businesses. The company said he’s played a pivotal role in providing strategic direction and forging strong partnerships with central banks, governments, and key stakeholders. Under his leadership, the Currency and Tax Stamp businesses experienced significant growth.

In his new role, Driscoll is responsible for directing all research and innovation initiatives within Authentix and spearheading the development of new products.

Dr. Driscoll joined Authentix in 2005, initially serving as the Vice President of Global Operations. Authentix CEO Kevin McKenna emphasized his integral role in Authentix’s accomplishments in a December announcement.

“Tim Driscoll has been a key contributor to the success of Authentix for many years. I’m confident in his range of capabilities to lead the research and development teams and continue our growth in innovation and advanced technology offerings with our expanding client base well into the future,” McKenna said at the time.

Fighting counterfeiters and illicit trade

Authentix has been a leader in authentication solutions for more than 25 years, fighting against counterfeiters and illicit trading. The company says it works closely with its clients to provide customized solutions that protect product safety, revenue, and consumer trust. In addition to its headquarters in Addison, Authentix has offices worldwide, serving clients in North America, Europe, the Middle East, Asia, and Africa. The company also provides physical and software-enabled solutions to detect, mitigate, and prevent counterfeiting and other illicit trading activity on  excise taxable goods and branded consumer products

Boulder Imaging, Authentix’ partner in the CD12 project, is a tech company specializing in machine vision and inspection solutions. The company formed in 1995 what the launch of its proprietary tech called Quazar. Its machine vision suite, Vision Inspector, is used 24/7 across industries to provide machine vision inspection solutions.

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