The joint venture, dubbed CI Tech Components, is set to become operational in March 2011 and will develop security technologies for authenticating and processing banknotes. CI Tech Components will be headquartered in Burgdorf, Switzerland. The company will also target providers of self-service systems, including the kiosk systems of banks, retailers and postal services, or railroad companies ticket machines.The partnership between the two companies is set to create services that will reduce the cost of cash management and minimize risks in cash processing for all the participants in the cash cycle.
CINEO, the new-generation system from Wincor Nixdorf, developed for banks and retailers, is equipped with cash cassettes. G&D has integrated these cassettes in a processing system for cash centers. G&D and Wincor Nixdorf plan to expand their current combined market share of around ten percent in the market for banknote authentication sensors and modules in the coming years.
The two companies next goal is to integrate Giesecke & Devrients cash center management software and Wincor Nixdorfs software platform for managing cash processes at banks and retail companies.
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