Identity documents recognition system based on artificial intelligence and computer vision from Russian developer Smart Engines has been integrated into the country’s largest retail broker FINAM Group. The technology has been introduced into FINAM’s information systems to simplify the processes of registering new clients by automatically entering their personal data into the internal KYC system.
Smart IDReader allows facilitating and speeding up the identification process at web-interface level – from the client’s side, and at the record-keeping systems level – from service managers side. The technology has minimized the chance of errors in the input texts both for clients and the managers; the process of data recognition takes a just few seconds.
For new and existing clients of FINAM, their passport data is required in several instances: first, at the contract finalization stage, and the in the future – in case their passport details have changed, or when the client wants to perform various financial transactions. To conclude the agreement, the manager who is serving the client or the client alone has to attach an image of their identity document (passport) – either as a scan or as a photo – to their personal account; thus, the image gets into the backend where it is then processed by Smart IDReader system. Further, in their personal account the new client would need to confirm the displayed passport data. In cases where Smart IDReader is unsure in the recognition results, it indicates the relevant fields, warning that those need to be checked more attentively, as they might contain errors.
“We have tested several trial solutions with similar features from other software providers prior to integrating Smart IDReader. We have opted for the solution from Smart Engines because it fully matched the requirements of our company in terms of speed and quality of recognition. It is safe to suggest, that Smart IDReader is the most technologically advanced and safe data capture technology available.” Vladislav Parkhomov, Board Member at FINAM Group.
“Our server solution is suitable for those companies that are facing the challenge of automating the data input from identity documents, both from the users’ side in their personal accounts, and by the service managers at the workstations.” Vladimir Arlazarov, PhD, CEO of Smart Engines.