Cash handling equipment and AI-powered biometric solutions provider Innovative Technology Ltd (ITL) announced it is celebrating 30 years in business this year. Founded in 1992 by David Bellis MBE, the Oldham-based firm was created with the aim to design and manufacture cost effective banknote validation equipment.
In 1994, the company launched its first product, the NV1 and its Smiley bezel. Following their development of affordable banknote validations, they expanded their product range and grew on an international scale.
Commenting on the anniversary, founder and chairman David Bellis said: “Over the past 30 years, ITL has flourished, and we have established ourselves as a leading provider of cash handling equipment enabling customers to automate cash payments throughout the world; manufacturing multi-coin hoppers, banknote validators and recyclers that handle millions of transactions every day.”
“This desire to continually innovate has led to the development of our biometric solutions division which allows customers to easily add age estimation and access control functionality to existing equipment or premises. We now have over 350 staff and numerous office locations worldwide plus a global network of Trading Partners – not a bad result from humble beginnings working out of my conservatory,” added Bellis.
Innovative Technology has received five Queen’s Awards, along with other accreditations from organizations such as The London Stock Exchange and Investors in People. Their solutions which automate transactions and verify individuals are utilized in many industries including gaming, amusement, vending, retail and kiosk.
ITL’s Group Managing Director, Peter Dunlop, commented: “We have invested heavily in research and development to ensure we can serve customers from a multitude of vertical sectors to deliver products they need and want.”
“This investment in innovation along with the help of our loyal customer base and committed employees is the foundation of our success and keeps us at the forefront of our industry,” Dunlop added. “Our future is prosperous and with our expanding presence in the retail sector and our new classification of biometric products, we are excited about the future ahead.”