Dr. Aleta Richards on Crane Currency’s Bold Path Forward

People, Purpose, and Paper Money

When Dr. Aleta Richards took over as President of Crane Currency in October 2024, she entered a world of tradition and transformation. A thirty-year veteran of Covestro, where she led global business units in high-security film applications, Aleta Richards was no stranger to innovation or global markets. But currency – particularly physical banknotes – is a category all its own.

“Before sitting in this role, I did not appreciate the full responsibility of a central bank to its country and fellow citizens,” she says. “It’s clear that central banks remain very focused on providing a secure monetary system that maintains confidence in physical currency.”

It’s a message that resonates across Crane Currency’s customer base, especially at a time when the global currency industry is under pressure to do more with less, and faster.

 

 

A Currency Industry in Flux

“The industry is going through a period of significant consolidation and transformation,” Aleta Richards observes. “We have felt the impact with growing number of requests and a higher demand for speed. Central banks are coming back – and when we say we deliver, we deliver.”

That reliability has made Crane a trusted partner. But being a good partner isn’t just about execution. It’s about foresight. Aleta is frank about what she sees ahead: opportunities in M&A, growing international demand, and a need to shift from siloed supply chains to more integrated ecosystems.

“We need to be ready not just for where we are now, but for where the industry is going,” she says. “That means expanding our portfolio, investing in innovation, and forging deeper relationships with other suppliers and security tech providers.”

A World of Micro-Optic Possibilities

One of Crane’s most defining innovations lies in its micro-optic security features – brilliantly engineered to deliver anti-counterfeit protections that are also easy to verify by the public.

“Security is only effective if people actually use it,” says Aleta . “An effect can be secure, but if it has a dull or low-contrast appearance, it becomes harder to verify and easier to simulate.”

This tension – between beauty and function, security and simplicity – is one Crane Currency continues to address through custom designs, brighter micro-optic features, and scientific user testing.

The same technology, Aleta Richards believes, has much broader potential.

“Crane micro-optics could be very interesting for other secure documents like ID cards, passports, even health credentials,” she explains. “No one else is offering what we do. Other providers use OVMs, inks and holograms. But our movement and contrast are unmatched.”

Growth Through Systems and Vision

Aleta Richards' leadership is deeply influenced by her time with Covestro and Bayer, where she saw firsthand how operational excellence and innovation go hand in hand. At Crane Currency, she is championing the Crane Business System (CBS) as a foundation for profitable growth.

“We’re applying CBS not just in operations but across supply chain, procurement, customer service, even marketing,” she says. “It creates consistency and responsiveness – two things our customers value deeply.”

 

And customers are noticing. With demand for secure banknote design and printing on the rise, Crane is seeing increased engagement, particularly in international markets.

“Physical currency still matters,” says Aleta, “It provides choice, inclusion, and privacy. We may not see historic levels of growth, but the importance of cash is not going away.”

Blue Sky Thinking

Perhaps the most forward-leaning idea Aleta Richards brings to the table is her initiative for “Blue Sky Collaboration” – a series of co-design sessions with central bankers, industry suppliers, and adjacent sectors.

“We want to bring people together to think ahead – five to seven years out,” she says. “What security threats are coming? What will banknotes look like? Where are the current gaps in our industry, and how can we start solving them now?”

The response so far has been enthusiastic. The first Blue Sky session is planned for Latin America, and Aleta sees this as just the beginning.

“We need the voice of the customer and the voice of the industry,” she insists. “Design thinking and co-creation aren’t buzzwords for me – they’re how we stay ahead of those who challenge our secure documents and the rights, protections and services, afforded by the institutions that issue them.”

People Matter

At the heart of Crane Currency’s next chapter is a simple but powerful belief: people matter. For Aleta Richards, who stayed three decades at her previous company because of its values, that’s non-negotiable.

Aleta is particularly impressed by how the Crane Business System (CBS) is shaping not only operational excellence but also the company’s culture. She notes the remarkable tenure of many Crane associates who have dedicated years to the industry and to Crane itself. At the same time, she welcomes the growing number of new talents joining the company from outside, just as she herself did.

She emphasizes the pivotal role people development efforts play in Crane’s talent acquisition strategy. “Our mission is not only to attract and onboard the skills and expertise needed to drive our growth ambitions,” she explains, “but also to retain our people by investing in their professional development.”

Every associate at Crane has an individual talent development plan, underpinned by the company’s core values. For Aleta, these initiatives are essential to ensuring Crane continues to meet customer needs both today and in the years to come. “Crane’s culture of Doing the Right Thing, Always Improving, and putting People First really resonates with me,” she says. “It’s why I joined, and why I believe our business strategy and innovation projects will be a success.”