Alfa-Bank integrates Smart Engines OCR into the banking application

0

Alfa-Bank has integrated Smart Engines computer vision document scanning capabilities into its mobile banking app allowing customers to update their identity documents remotely, which the two companies say eliminates the need to go to an office to perform the task.

Customers can update their identity documents registered with the bank by opening the Alfa-Bank app and placing a new identity card in front of the smartphone camera. Real-time Optical Character Recognition (OCR) is done using the video feed from the smartphone camera, after which the user confirms the data which is then sent to the bank’s system.

CEO of Smart Engines Vladimir Arlazarov declares that the application is secure and protects user data because “external services come between the customer and the bank”. Arlazarov adds that the technology does not require high-performance computing power and works even on low-end mobile devices.

Damir Battulin, Senior Vice President, Head of Online Development Department at Alfa-Bank comments: “Previously the customer had to go to the bank office for any banking service. Now almost all services are available remotely, and even, for example, identification data can be updated in the bank’s mobile application the same day your new document is issued.

Smart Engines has previously collaborated with Raiffeisenbank for an Android mobile application that performs financial activities with a QR code. It has also found various clients for its identity scanning service in 2021, from commercial real estate giant CBRE in Russia, automatic credit card scanning for Kazakh Super App Kaspi.kz and integration into the Czech fintech company Cashbot for Czech ID cards.

Its product growth last year led to 113 million instances of native digital document scanning and processing for businesses, and a 26% customer base growth from 2020.

Article topics

biometrics | computer vision | document reader | financial services | mobile app | optical character recognition | Smart engines

Share.

Comments are closed.