Evaluation of Feature for Asian Central Bank

RNS Number : 0037Z

Spectra Systems Corporation

08 January 2020

 

Spectra Systems Corporation

("Spectra")

 Large Scale Evaluation of Security Feature for Asian Central Bank

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, is pleased to announce that it has qualified its products for the next stage of evaluation by a major Asian central bank.  Spectra's products, along with those of other vendors, were first tested at the laboratory level and have been selected for the next stage of evaluation involving a multi-million note test.  These tests with our products and other successful vendors, will be undertaken over the next ten days and will be used as part of the full technical evaluation process.

The company expects that subsequent to these tests, the central bank will evaluate the entire technology package from the qualifying vendors, including the business terms, and arrive at a selection.  Although not certain, we believe this final selection will take place in 2020 calendar year.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are very pleased to have been selected to continue on to the large scale evaluation stage by the central bank and hope that we will have the opportunity to provide this customer with the quality of service and accountability we have provided G7 central banks over the last decade"

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                                       Tel: [phone]

 WH Ireland Limited

Chris Fielding, Managing Director, Corporate Finance                                      Tel: [phone]

 

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