Despite the surge of plastic money and online transactions, the banking industry largely relies on tangible paper documents as the most trustworthy method for business transactions. Even online transactions and credit/debit cards will never become paper free as the customer needs a tangible proof of his/her payments.
This is why printing services form the backbone of any banking business. In fact, with the amount of banking scams taking place globally, having safe and intelligent printing methods for security documents is vital.
Banks avail of an array of printing services including (but not limited to) share certificate printing, bond certificate printing, interest/dividend/redemption warrant printing, demand draft printing and bank deposit printing. Each of these involves a different level of confidentiality and complexity and this is why vendors of these printing services are generally approved by a national banking body, as in the case of India the IBA (Indian Banks Association).
Security documents printing is different from any other printing service as it involves the usage of UV inks, watermarks, holograms and fugitive inks to ensure that duplication of these highly confidential documents is practically impossible.
Take the case of bank cheque printing. To make cheques tamperproof, fugitive ink is used by cheque printers. This special ink makes cheques sensitive to chemicals, water and other substances, such that tampering is evident and the cheque is rendered invalid by the bank. Similarly, in the case of share certificate printing, the use of holograms and UV ink (ink that can be seen only under a UV scanner) ensures safety.
With individuals and organizations going green, it is natural to wonder whether our environment suffers due to such widespread use of security documents by the banking industry. However, responsible printers ensure that they buy their paper from reputed paper mills who engage in afforestation to ensure an ecological balance.
If money makes the world go round, it is backed by reputable infrastructure and steady systems that inspire trust. Just like customers need their banks to be secure, banks need their printing service providers to be ‘bankable’. These unsung heroes develop and maintain secure printing solutions which are the cogs that keep the wheels of our economy rolling.
Printing Services in the Banking Industry