Nautilus Hyosung's counterfeit-detection tech gets green light from European Central Bank

Nautilus Hyosung's counterfeit-detection tech gets green light from European Central Bank
Tags: Asia, Australia & Pacific, Bank / Credit Union, Deposits / Check 21, Manufacturers, Nautilus Hyosung America, Inc., North America
July 22, 2009

Nautilus Hyosung's Monimax 7600T

Nautilus Hyosung Inc.'s Monimax 7600T has passed the European Central Bank's system test for counterfeit note detection and bill validation. The central bank's approval gives Nautilus the green light to market and sell its Monimax 7600T detection and validation technology to financial institutions throughout the Euro member states, without the need for further certification approval.

Nautilus says the validation/certification makes it one of the few ATM manufacturers that has developed its own counterfeit-detection and bill-validation technology.

The Monimax 7600T is a full-function ATM that accepts automated bundled cash and check deposits. Since 2007, some 2,000 Monimax 7600 series ATMs have been deployed at Citi branches in the United States through Nautilus' U.S. arm, Nautilus Hyosung America Inc.