The central banking industry's pre-eminent communication, Central Banking Journal, announced the winners of their annual awards in March which included Note Printing Australia being awarded the Currency Services provider of the year for 2023.
The award was given for NPA's work with Bangko Sentral Ng Pilipinas (BSP) and the strategic collaboration the two organisations have engaged in across the last 18 months.
NPA is delighted to receive this award but shares the honour with BSP. The partnership has created a unique opportunity for both organisations to grow together as a polymer banknote technology transfer process takes place.
In an article documenting the award-winning initiative, Central Banking Journal provided an insight into the strong relationship that has developed between NPA and BSP over the previous two years.
Starting with former BSP Governor Benjamin E. Diokno's vision for making a transition to polymer banknote printing in which all major risks were mitigated by working with an experienced partner, the strategic collaboration has resulted in an alignment of shared effort and resources is unlike any previously undertaken by either organisation.
One of the keys is the respect that each organisation shares with the other for their respective responsibilities and roles in the collaboration. NPA makes clear that BSP drives all the decision-making in the project, with NPA being relied upon for its polymer banknote printing expertise and other production-related advice.
The article quotes BSP's Managing Director for the Currency and Securities Production Subsector, Mary Anne Lim, as saying "we wanted to collaborate with an institution that could be a very reliable partner for us, that could really support and help the objectives of the organisation from start to finish."
The article also notes that NPA is helping equip BSP by engaging in a polymer banknote technology transfer process in which the ultimate goal is for BSP to become a strong independent and capable printer of polymer banknotes. This collaboration spans the entire manufacturing process from banknote design, quality management systems, preproduction, production, and finishing.
The award for Currency Services will be presented at the Central Banking Annual Award ceremony in London in mid-June.
