With an accuracy of 96% and processing speed less than 1 second, VinOCR is being applied in solving problems related to remote customer identification. It is especially helpful during the Covid-19 pandemic as reducing social exposure, also maintaining and improving business efficiency and user experience.
KYC (Know your Customers) is the process by which businesses, especially financial institutions, collect and verify information about customers’ identities and addresses. With traditional methods, service users must go directly to the transaction office so that tellers can visually observe, authenticate identity cards/citizenship, and compare facial recognition features with data on records and papers.
Because of the cumbersome procedure in the authentication process, the service user’s experience is significantly reduced, even in some cases customers abandon the brand. For businesses, traditional customer identification also causes financial and human resources burdens, affecting production and business efficiency. In the context of the Covid-19 pandemic, the limitations of this approach are more evident than ever.
VinOCR quickly and accurately authenticates various types of documents
Recognizing the difficulties of enterprises in customer identification, VinBigdata has invested in researching VinOCR, belonging to the VinBase Vision product line. It applies computer vision technology to support handwritten document detection, identification and extraction from images.
VinOCR is developed based on cutting edge technology, in which the outstanding highlights are: 93% accuracy in business card reader, extraction, classification, and directory storage of data and up to 97% accuracy in character recognition for Vietnamese and English documents, which is currently the highest in the market.
With the superior technological capabilities mentioned above, VinOCR is capable of processing both structured & unstructured documents, tables and graphs, and also handwriting. Taking less than 1 second, the software can read, identify and verify identity cards, passports, driver license, vehicle registration, registration book and birth certificate. The accuracy of these tasks is up to 96%.
VinOCR promotes digital transformation of business operations
No more wasting time and resources on manual data input, with VinOCR, customer identification information is extracted and digitized automatically in real time. Service users, therefore, will have a better experience, thanks to significantly shortened filling time. At the same time, businesses will save a lot of time and effort for data entry, as well as minimize the risk of errors for input data.
This is considered one of the prerequisite steps of the roadmap for business digital transformation. VinOCR solutions can be easily customized, integrated and conveniently deployed into the enterprise’s system. Thus, VinOCR has been applied in a number of businesses, including the VinID e-wallet. In the context of a strong digital transformation process, deploying VinOCR means that businesses will gain a significant advantage in the market.
VinOCR – A simple customer identification solution during the pandemic
During the Covid-19 pandemic, VinOCR is the solution to both ensuring social distancing and improving service quality, optimizing production and business efficiency. Data processing steps of VinOCR include:
Step 1: Identify the type of image to support. Step 2: Image analysis, including text detection; text reading and content analysis.
Step 3: Convert images to text.
On the client side, with the support of VinOCR, the authentication process is also shortened and simplified, just by uploading two-sided photos of 1 of 2 types of identification documents or the front of the passport, then waiting for the system to read and process it.
Electronic know your customer (eKYC) is one of the applications of VinOCR. In addition, products can be developed to solve many different problems, meeting various needs of businesses, such as automatically reading business cards, digitizing documents, etc.