MT. PROSPECT, Ill.--(BUSINESS WIRE)--Cummins Allison, the leading innovator and provider of coin, currency and check handling solutions, as well as ATMs, today announced that it has been recognized with the number five ranking on Crain’s Chicago Business Innovation List. Cummins Allison has been ranked in the top five Most Innovative Companies since the list debuted in 2012.
“Throughout American history, patents have been an important incentive for research investment and technological development. A strong U.S. patent system is extremely important to our company's present and future success, as we remain committed to supporting the American economy and our local community,” said William J. Jones, CEO, Cummins Allison. “We appreciate the continued recognition by Crain’s of Cummins Allison’s long-standing dedication to delivering industry-changing technologies to our customers.”
As in year’s past, Crain’s enlisted the help of a Chicago-based merchant bank that specializes in intellectual property to create the ranked Most Innovative Companies list. Data from the U.S. Patent and Trademark Office is used to rate the quality of patents, based on uniqueness and the likelihood that companies will invest to develop, maintain or defend them.
Patented Technologies Drive Differentiation
In 2016 Cummins Allison was awarded 10 patents by the United States Patent and Trademark Office. These patents were awarded for new technologies which streamline cash vault operations, improve sensor arrangements for high-speed coin imaging, gather and store bar-code image data for non-currency items (e.g. tickets), automate cash and check deposit processing and increase counterfeit detection.
“In the highly competitive industries that we serve, innovation is always top-of-mind,” said Doug Mennie, president, Cummins Allison. “We help our customers foster a culture of innovation through our rigorous commitment to R&D. The development, design and engineering of our products is directly influenced by the feedback we receive from our customers. By doing so, we help our customers stay ahead of the technology curve with solutions that position them for success today and into the future.”
Cummins Allison is the only U.S.-based company that designs, develops and manufactures currency, check and ticket processing solutions. The company’s products are used to count, sort and authenticate coins, bills and checks throughout the world. As a global innovator of high-speed commercial currency and check processing equipment, Cummins Allison products are used by financial institutions, armored carriers, grocers, retailers, gaming properties, government agencies and others.
For more information on Cummins Allison’s commitment to innovation, please visit www.cumminsallison.com/innovation.
About Cummins Allison
Cummins Allison is the leading innovator and provider of check, currency and coin handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.com.