PerceptNote® brings a new approach to the evaluation of banknote perception that combines innovation in image capture with AI driven image analysis, all without the need for time consuming perception studies of users. PerceptNote® has two different levels of approach to perceptual analysis. The first concerns the discrete dynamic effects of security features, independent of their banknote context, and the second addresses user perception of the whole banknote and thereby assesses the security features within the context of the entire banknote design. These two levels of analysis provide a full perceptual evaluation of banknote design and when combined are especially adept at characterising the effects of banknote degradation on perception.

A critical component of PerceptNote® technology is the capacity to quantify and characterise dynamic information, that is, any visual information that changes when a banknote is manually tilted, rotated or moved. Quantifying dynamic information requires the use of sophisticated custom-designed proprietary hardware, known as MADIS (Multi-Angle Dynamic Image Scanner), which precisely captures a series of high-resolution images obtained from multiple angles and orientations under carefully controlled and standardized conditions. The images obtained are processed and analysed using PerceptNote® software, and then combined with a comprehensive analysis of the static information on the banknote. The result is a series of visualisations and metrics that characterize the perceptual performance of a banknote.

Here we present the results of a PerceptNote® study conducted in collaboration with the Bank of Canada with the following aims:

1. To discover the perceptual impact of individual security features independent of their banknote design context.

2. To predict perception of the whole banknote, with emphasis on how design context affects security feature perception.

3. To quantify and explain in general how wear affects the visual perception of security features and banknotes.

4. To validate PerceptNote® technology against a set of behaviourally observed authentication performance and scanning eye movements previously obtained by the Bank.

The results of the study not only show that PerceptNote® accurately predicts observed behaviour, it also provides an excellent quantification of security feature information, and shows clearly how design context affects security feature perception. Moreover, it is able to accurately measure the effects of wear on security features, concurring with the Bank’s and other independent experts’ classification. In summary, PerceptNote® is a very useful tool for addressing a wide range of question concerning the impact of banknote design on public perception.