@rupiah,
I found out the process that the Bank of Canada uses when manufacturing a polymer note, from the BoC presentation at the conference. They have implemented a process called the Single Note Inspection Process.
When I spoke with a Kurz represntative, the hologram foil on the Canadian polymer note is their technology. When I spoke with an Innovia (Guardian) representative, they said they incorporate the Kurz hologram foil into their Guardian polymer note substrate. A lot of the companies surprising co-operate each other and incorporate other technologies into their product.
When the polymer note substrate along with the hologram foil is incorporated, the CBN prints the remainder of the polymer note. It is surprising and interesting to note that BA International is the party that cuts the sheets of notes, and inspects the note for defects, etc.