In this world of fast pacing advancement, there is a need for high-efficient technologies that can help human beings in doing their tasks more conveniently. As the globe is facing multiple challenges because of coronavirus, in this situation advanced technology would be more preferred. Therefore it is necessary to reunite and fight against the pandemic, hence we cannot give chance to scammers to destroy the quality of the businesses.
It is always a tricky task for all businesses to know how a large amount of data can be extracted by documents, especially those which are written in poor and cursive handwriting. The ICR app was introduced in 1993 by Joseph Corcoran. As a result, identity authentication is practiced through ICR technology and OCR software as well for automatic data extraction.
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Intelligent Character Recognition (ICR) is part of Optical Character Recognition (OCR) software. The main purpose of OCR is to extract printed and handwritten text, but the ICR app is formed to understand different styles of fonts of handwritten documents and printed documents. This also improves the accuracy rate and provides real-time results.
Intelligent character recognition software is efficient in capturing the text from images. In other words, it can be said that it is an advanced form of OCR algorithm. Hence, the ICR scanner is in the phase of improvement, which can get better in providing an accurate rate of authentication. Still, work is going on to update ICR so that it can be used worldwide in the future.
We can not ignore the fact that ICR technology is not so much better in terms of accuracy as it is still in the advancing phase. ICR technology is learning neural networks established by artificial intelligence. The more the data is extracted by ICR technology the better it will start to perform.
The range of updated writing styles and fonts are based on AI-based neural network models and interpreted by a self-learning system of ICR technology. This means that whenever a new style and font is scanned, it will be automatically learned by the ICR technology and stored in databases. This enhances the authenticity of the software and helps to further authenticate future texts.
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ICR software for handwritten documents has several uses in different sectors, for example, it is used by pharmacies, translation apps, etc. The basic advantage of the ICR app is that it provides identity authentication that performs screenings in bulk and also does individual screening. It helps end-users to fill forms online by staying at home where they can not be disturbed anymore instead of coming physically. This is the only reason that businesses that deal with monetary form fillings in banks using the ICR app.
The ICR technology first scans and then collects the data from documents. That extracted data is then stored in the back office and changed into editable or moveable text.
The only disadvantage of intelligent character recognition is that it is still working on its development.
Document verification is important for identity verification. where a person is bound to upload his selfie and documents. The uploaded documents are covering essential information like name, age, date of birth, passport number, issue date of passport, and the expiry date of the passport. All of the information is collected and retracted by the ICR algorithm. Then the data at the back office is cross-matched and verified. This whole process ensures that the person is authentic and not a scammer. By this, the banks are considered reputed and efficient in their systems.
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