50 Years of Banknote Design and Production Expertise

After a career spanning almost 50 years with KBA-NotaSys, Fausto Giori has become one of the most familiar faces in the banknote industry, renowned for his role in driving forward developments in banknote production, and in particular intaglio, and also for his contribution to what have become the tenets of modern banknote design. This contribution was recognised last year, when the Banknote 2011 Conference presented him with a Lifetime Achievement award. Currently Technical Advisor for KBA-NotaSys, having stepped down as Technical Director in 2003, he has recently been appointed General Director of the newly-launched Intaglio Engraving Academy. In advance of Banknote Horizons, the four-yearly demonstration by KBA-NotaSys of its latest technologies which takes place April 29 to June 1, Currency News caught up with Fausto to find out what to expect from this event, his new role with the IBDA and his contribution over nearly half a century to banknote design and production.

 CN:     Nearly 50 years in the industry is a remarkable achievement. Can you describe your background and career over this time?

FG:      After my PhD in Industrial Chemistry I started work in 1964 for the Giori organisation, which had been founded by my cousin Gualtiero Giori. My first task, based at the Training Centre in Milan, was the development of the water wiping process for intaglio printing, which brought me into contact from the very beginning with the fascinating world of banknote design, engraving, origination, platemaking and printing.

In 1975 I moved to Lausanne, De La Rue Giori’s headquarters, initially as R&D Director, later as General Technical Director until my retirement from executive tasks in 2003.

Since then I have continued to work as advisor for several research projects. I am currently Senior Consultant for KBA-NotaSys, supporting the Banknote Service Department, especially for security features and consultancy to central banks on research programmes and new issue management. I am also glad to be able to put my experience at the disposal of the IBDA.

CN:     What have been the key milestones in banknote production technology over the course of your career, and what input have you made into those milestones?

FG:      The first milestone was undoubtedly the successful result of the water wiping development. The first printed sheets, with superb print quality, had a really marked impact on me as it was then that I learned how hard the industrialization phase can be. I like to remember the Giori line at that time, with three machines, each revolutionary: the Simultan, the 2-plates Intaglio and the Numerota.

The three processes of offset, intaglio and typographic numbering remain the core of banknote printing today, with continuous evolution covering format, speed, number of colours, automation and security. In parallel, during the last decades the production line has been extended to include finishing processes such as automatic quality inspection, foil application, silk screen printing and varnishing.

I have had the privilege to participate and contribute to these outstanding achievements over the years.

CN:     What have been the major changes in banknote design practice over that period?

FG:      The design evolution has always been driven by innovative ideas and advances in technology. Typical examples are the evolution of multicolour intaglio printing and design, as well as the development of the Simultan offset process which made it possible to create new designs with extremely fine and light lines in perfect registration.

In more recent times the major change in banknote design has been the introduction of optically variable features, a challenge for their aesthetic integration into the main banknote design.

CN:     Does the industry need some form of standards, best practices or regulation when it comes to banknotes in terms of design, security, durability, processability etc?

FG:      There are too many differences between too many countries for a common standard to be developed. Every central bank develops its own specification according to its specific needs, objectives and the preferences of the public and machinery in its national cash cycle. These needs are evolving all the time, making it necessary to update banknote designs more frequently.

However, there are security recommendations that cannot be ignored by any issuing authority. For example the Interpol Recommendation for the use of double sided intaglio print remains a fundament and common ‘backbone’ for the security and aesthetic value of any banknote.

CN:     Where do you see the biggest threats/challenges for our industry in the domain of design?

FG:      No doubt – the note size reduction trend. This is contradictory with the trend for increasing the number of security features in the continuous fight against counterfeiting, and constitutes a big challenge for the designer. A positive aspect is that the problem stimulates the industry’s creativity, as demonstrated by SICPA with the combination of 1, 2 and 3 security levels in a single feature.

CN:     What, in your experience are the most common mistakes made when it comes to creating a new banknote series?

FG:      To concentrate the design effort in the integration of new security features, without sufficient focus on the core security printing processes. Often a greater attention to offset and intaglio details could improve both aesthetics and security… at no additional cost for production!

CN:     And if you could give some advice to a central bank starting out on a new series or modification, what would it be?

FG:      The launch of a new series is becoming ever more complex. It is extremely difficult for a central bank to assimilate all the latest know-how and methodology and there is a real need for central banks to filter the choices. I would advise any central bank to establish a top level partnership with an experienced specialist, not only for the cash cycle study and security feature selection, but also for the overall methodology and project management.

CN:     Security is a combination of substrate, print and applied features. There have been some startling innovations in the latter in recent years. Despite your comments earlier about the concentration on feature integration at the expense of the core printing processes, can features generated by print ever compete in terms of aesthetics, impact and security?

FG:      As you say, security is based on a harmonious marriage of substrate, print and applied features. Let us not forget the role of the banknote designer in ensuring creating such levels of security. Not only can printed features compete with embedded or applied features – printed features are absolutely necessary in order for these embedded or applied features to realise their true potential.

For example, striking new optical effects can be created using screen and high precision offset printing. Wonderful intaglio patterns, portraits and symbols that are immediately identifiable by the public and machines can be generated using intaglio, and complex yet highly functional machine-readable codes can be generated in a secure manner within the printing works with absolute supply chain integrity guaranteed.

The most successful features are built on a combination of technologies and processes and brought to life through the magic and artistry of the designer. Printed features will always remain the first line of defence for the banknote designer and will always be These features need print to be truly secure.

CN:     In addition to the fundamental technologies used in banknote printing aside, do you think that other printing technologies eg. ink jet, will become relevant in the future?

FG:      Ink jet – as available today – is the most important means for counterfeiting, therefore security printing must differentiate itself. However, I don’t exclude the possibility that in the future some form of non-impact security printing could be developed; a device, for example, to put the right material in the right amount in the right position on the substrate.

CN:     Many of the craft skills such as design and engraving have been substituted by technology eg. CTOP, CTIP, CAD. With the loss of the craft element in banknote design, isn’t the industry in danger of commoditizing the technology and making it easier for the counterfeiter?

FG:      Despite the fact that our industry has developed CAD and engraving systems that by far exceed the performance of commercially-available equipment, the answer to your question is, unfortunately, yes! The danger is there, if modern security design technology is used simply as an easy design tool or as a shortcut  to save time and money in the origination process, without exploiting the full potential of a system which relates the design to the printing technology. For this reason the relevant and complex security design rules must be strictly followed, and I cannot stress enough the importance of training, training and more training!

CN:     Which leads neatly onto the IBDA’s Intaglio Engravers Academy, and your involvement in its training programme. Can you explain your role, and what this academy aims to achieve?

FG:      The Intaglio Engraver Training Programme has been developed in response to demands from the international engraver community, central banks and banknote printers. The programme has been developed in a modular fashion to enable engravers at any level to enter the programme and perfect their skills according to a suitable plan.

Students will be supported, monitored and followed at every step by a team of five internationally-renowned Master Intaglio Engravers, and at the end of the training programme will be awarded an industry-recognised IBDA qualification according to the results achieved.

My role as General Director is to create visibility for the programme within the banknote community and to oversee all academy activity. I am fortunate to have a very dedicated team of Master Engravers on board to ensure that engravers participating in the programme receive the best education possible according to their specific skill levels and needs.

CN:     In a couple of weeks time, KBA NotaSys will be holding Banknote Horizons. What will be the key highlights of this event, and what have been the main developments since last one was held four years ago?

FG:      The theme for this event is ‘Adding Value Through Print’. It was chosen because, in the past decade, we have seen a transfer of added value away from the printworks to, for instance, substrate manufacturers. This is due to the fact that substrate manufacturers and security feature suppliers have been able to convince central bank management of the benefits of having security features embedded in the substrate so that they don’t have to invest up front in printing machinery.

As described in the March issue of Currency News, this strategy works when it concerns large printing runs in which the substrate manufacturers can let their production equipment operate for long, uninterrupted periods of time. The current market, however, demands more flexibility; production runs are getting shorter and changes to banknote designs and selection of security features occur more frequently. This inevitably results in a higher substrate price.

Another reason why people should be careful about adding too much value to the substrate lies in the increased security risks, by default the substrate production process will never be as secure as a printing plant. A web break will result in unaccounted loss of substrate which could fall in the wrong hands if not handled carefully. During the Banknote Horizons demonstrations we will show visitors how value and security can best be added in the print works.

Key highlights include some very interesting new technologies in design, pre-press, print and finishing. Like, for instance, the new plug-ins for our ONE software and some interesting new technologies in intaglio plate making. In the printing hall we will showcase our new flexible finishing concept and some new additions to our modular numbering press SuperNumerota III.

Places are limited so I would urge anyone who has not registered yet to do so soon.

CN:     What will be the next big thing coming out of the KBA NotaSys stable re. design, production, finishing, features? 

FG:      Wait and see… I don’t wish to anticipate what we are going to show at Banknote Horizons 2012!

CN:     And finally, what in your mind constitutes the perfect banknote?

FG:      My dream: a galaxy of advanced security features all sealed by a central, beautiful intaglio engraving!