Why Perception Studies Need to Be Considered in a Wider Context

One the sessions at the Banknote & Currency Conference was ‘Perception Studies: Producing Actionable Information to Support Data-Driven Decision Making’, in the context of: what are the most effective features on a banknote? What do people use to authenticate them? What captures their attention and how do we know?

Participants in the session panel included Mariano Alcañiz of Immersive Neurotechnologies Lab (LabLENI), Manuela Sebastián of Banco de España, Alejandro Alegre of Banco de México, Jaime Guixeres Provinciale of Quatechnion, Jane Raymond of Birmingham University and Secure Perception Research, and Kerre Corbin of De La Rue.

In the next handful of issues we will focus on the contributions of each. In this first article, we concentrate on De La Rue’s take on the context in which perception studies need to be considered.

Over 25 perception studies and associated presentations have been made over the past decade. Central banks including those of Australia, Canada, England, Mexico, the Netherlands, Spain and the US have all applied scientific rigour to the banknote design and security feature selection process.

Experiments have observed participants in different situations, with technology measuring response times, visual activity and emotional responses to assess how users interact with banknotes. Conscious and subconscious interactions have been considered. Surveys and brain response experiments have provided insight about how the public and cash handlers interact with banknotes. These studies are insightful Aims and rationale of perception studies

These perception studies have been motivated by a range of factors. Central banks or academics commissioned by central banks undertaking them have stated that they were looking to:

• increase or prioritise user engagement, better understand what drives confidence in banknotes and how to select security features and to adapt education programs accordingly.

• look at user and functional requirements to inform design around the basic function of recognising value.

• understand/improve the usability of banknotes, ensuring that user experience is a central driver.

• explore the contributions of note quality, sensory modality, training, security features and demographic variables to the accuracy of counterfeit detection.

• understand how confident participants are in their ability to authenticate notes and understand the influence of training material format.

• enable the selection of security features that are both secure and well recognised/used.

• develop a theoretical model of the human cognitive processes involved in authentication, to test the model by conducting a series of banknote authentication studies, and then to develop principles and guidelines for better banknote design.

(A list of some of the key perceptions studies over the past decade, and more, is provided below).

In addition to these, perception studies commissioned by suppliers may seek to demonstrate the benefit of a specific product.

The experiments, surveys and studies carried out have been specifically designed to meet precise objectives related to these types of topics.

The different requirements behind a perception study mean there isn’t a single correct general approach. Many studies are designed with a deliberately narrow scope, for instance to focus on single features or a specific banknote.

Furthermore, the diversity of people and cash cycles that exist will lead to various studies demonstrating different types of user interactions with the banknotes. This is useful when putting perception studies into context because it is important to remember that banknotes are secured holistically and need to work for all stakeholders and use scenarios.

It’s also useful to note that perception studies, by necessity of their specific objective, are often undertaken in environments that differ from the transactional environment of day-to-day cash use.

Perception studies, as with all scientific studies, will lead to conclusions that are dictated by the design of the study. Results from one culture or demographic may not necessarily transfer to that of another. For instance, when checking whether a banknote is authentic, users who have grown up with paper banknotes may check the watermark, whereas users who have grown up with polymer banknotes may try to tear the note.

Perception studies often have some type of instruction to follow, meaning the environment is not like real life and people may examine the note more closely than usual.

It’s also possible that feature analysis and assessment may give unrealistic results if done in isolation of the overall banknote design. These types of examples help to explain why some studies draw different conclusions (eg. ‘portraits are the most intuitive graphical feature for emotional engagement’ versus ‘portraits should be replaced by other visual elements’).

This doesn’t mean perception studies are not valid – quite the opposite – it simply means that care is needed when taking the results from one perception study and considering its applicability to a different scenario.

So, perception studies are useful, but other requirements also need to be considered in parallel when designing a banknote. Certain perception studies may not be applicable for certain countries. Countries have political, cultural and financial considerations to be balanced, which means other surveys and studies may also be appropriate. The counterfeiting threat (both current and future) and performance of the existing series needs to be assessed. Other banknote needs, such as wider cash handling requirements and production considerations, are also important.

Taking a broader view and wider range of inputs helps to consider the banknote design in the wider context of stakeholders and priorities.

What perception studies do is to provide valuable information in the form of evidence and analysis to educate, guide or support decisions. They provide a unique perspective and a route for central banks to demonstrate they have included the needs of the public.

They also provide insight into the most effective language and approach to public education materials and media, which is an important angle when considering banknote confidence.

They are an incredibly useful tool if the conclusions are taken whilst considering the broader context, such as understanding the motivation for carrying out the study and considering the applicability of the study to the relevant situation.

For central banks considering a new series of banknotes, perception studies can play an important role. However other perspectives also need to be considered and care is needed when extrapolating conclusions from any single study to a central bank’s particular situation.