OCR Studio has introduced a new AI-driven toolset that operates on-device, allowing banks and regulated businesses to manage Know Your Customer (KYC) processes within their proprietary infrastructure.
The development aims at streamlining the customer onboarding process while safeguarding against identity impersonation and ensuring compliance with stringent data protection regulations in regions such as the Middle East and North Africa (MENA), Europe, and the United States.
Improving KYC Security and Efficiency
Banks and other regulated entities can now implement custom KYC systems where customers can complete ID verification securely and efficiently. This method keeps all sensitive data protected during identity scans without transmitting images to external cloud services or crowdsourcing platforms, thereby minimizing the risk of data breaches.
The solution includes an automated extraction feature for information from various fields, including dates of birth, which is crucial for age verifications. The document recognition process occurs on the user’s device using lightweight neural networks that run solely on the central processor. This ensures compliance and maintains privacy since no images are sent to third parties.
Facilitating Face Verification
The toolset also includes a face comparison module, which can be activated by customers through a simple photo or video capture via their device’s front or rear camera. The OCR Studio solution will automatically recognize the face and compare it with the ID document photo to assess similarity. This feature is designed to enhance protection against presentation attacks and impersonation.
The suite of solutions can be seamlessly integrated into various company infrastructures, such as running on corporate servers for on-site KYC processes or embedding within mobile applications for remote scenarios. Additionally, for day-to-day banking and online services, the system can be deployed through WebAssembly technology on a business’s website, ensuring high-speed and accurate identity verification across desktop computers, tablets, or smartphones.
