Online insurance platform uses Smart Engines OCR to verify clients
Online personal insurance services platform Mafin has integrated Smart Engines document recognition technologies into its server and mobile application to provide a quick and easy user experience for those wishing to apply for insurance online.
Completing the personal details form is a necessary step in the application process for insurance of any kind; in Mafin platform, instead of filling the personal data manually the client is only required to either upload the passport picture/scan, or show the document to the camera of the smartphone, holding it for a couple of seconds. The Smart Engines recognition module enables to capture the data and prefill the Personal Details Questionnaire automatically. The platform supports recognition of passports, driver’s licenses, vehicle registration IDs, and licenses of the vehicle.
Apart from that, based on the information provided by the client, Mafin platform is able to make an accurate estimation of insurance risks, and provide a quote lower than the market price in 70% of the cases. The calculation of the insurance policy price is company’s proprietary development, and is based on machine learning algorithms and big data analysis.
Speed of service and customer convenience are the most important elements of a positive user experience. Smart Engines recognition technologies enable us to meet the needs of our clients by allowing calculating the final cost of the policy in less than two minutes
Smart Engines OCR software installed in document scanners helps banks with identity validation & fraud detection
Universal credit bank Metalinvest Bank is using digital Passport & Visa Scanners developed by Intek Group to scan personal identification documents of its clients. Equipped with Smart Engines passport recognition and validation software, the devices are designed to perform automatic optical scanning of documents of various formats, including: ID1 (ID card), ID2 (visa), and ID3 (passport).
Each scanner is equipped with infrared (IR), white, and ultraviolet (UV) illumination systems which help to capture the information from the document. In case of biometric documents, the data can also be retrieved from the embedded RFID chip (the chip has to be compliant with ISO 14443 A/B standards). Based on proprietary document recognition & authentication algorithms developed by Smart Engines, the OCR software analyses the document images obtained in three bands during scanning.
In order to process various banking operations which require obtaining client’s personal details, Metalinvest bank employees simply need to place the ID document onto the scanner’s reading surface, and the passport data will be automatically extracted; the document authenticity check will be then carried out and the data will be populated into bank’s the internal PMS (Property Management System).
Personal data entry and document authentication systems have already been put to work in Metallinvest bank branches across ten major cities in Russia.
Smart Passport Reader simplifies the online loan application process for over 3 million clients of MTS Bank.
Smart Passport Reader by Smart Engines — Quick solution for the banking sector.
By allowing to capture client personal data instead of manual input Smart Engines OCR SDK enables to minimize the time and effort required to onboard a new customer or issue loans/credit cards.
Smart Engines OCR technologies are helping fin-tech companies provide advanced digital services for their customers across various interactions, be it at a front desk, on a website, or in mobile application.
Smart Engines: Revolutionizing customer experience with Digital Transformation.
Private joint-stock universal bank SKB-Bank improves omni-channel customer service with Smart Engines Passport & Bank Card recognition modules
One of the largest Russia’s regional banks SKB-Bank integrated Smart Engines OCR modules for recognition of passports and bank cards to improve bank’s omni-channel customer service across various interactions with its clients. The document recognition works in SKB Bank and SKB-agent mobile applications, the latter being used by SKB’s agents and partners which take part in credit card issuing program. Under the terms of cooperation, the list of documents that can be recognized by SKB-bank clients includes: passports, driver’s licenses, vehicle registration IDs, licenses of the vehicle, Individual Taxpayer Number, Insurance Number of Individual Ledger Account, and other documents, supported on all major mobile, server and desktop platforms.
Founded in 1990, SKB Bank offers a full range of high-tech financial services for individuals and entities. SKB’s agents and partners provide outreach customer service using SKB-agent mobile application, which allows advising on credit card condition offers, issuing and delivering them, applying for a loan, and tracking its status.
Smart Passport Reader enables to minimize the time and effort required from the customer to apply for a loan by allowing scanning the customer’s relevant document instead of inputting the personal data manually.
Smart Bank Card Reader makes the process of conducting various payment transactions in a mobile application quick and easy. The bank card recognition module can capture card number, its expiration date, and cardholder’ name from a bank card of any kind, including embossed and indent, regardless of positioning and lighting conditions.
In the future, SKB-Bank is planning on using Smart Engines recognition technologies on the website, as well as in the front-desk service delivery system across all SKB-Bank branches.
Mobile application is a crucial component of our service infrastructure; it is aimed at improving the customer convenience during remote interaction with the bank. After relying on classical universal bank work format for so many years we have now build such customer service that can be compared to those of advanced fin-tech companies .
Project Manager, Department of Digital Technologies
The cooperation project with SKB-Bank once again reaffirms the must-have status of document identification technologies in business-customer interactions across various channels, including mobile applications that are designed to provide a high level of remote client service.
Vladimir Arlazarov, PhD
Renewing car insurance online can take less than 1 minute
Insurance Company Soglasie uses Smart Engines recognition technologies to allow its existing clients renew their driver’s insurance policy online. By integrating Smart Engines recognition module into company’s mobile app, Soglasie managed to decrease the average time their users had to spend on renewing their insurance policy for the next year by 50%.
In the framework of Soglasie’s cooperation with Smart Engines, the list of documents that can be recognized in the app includes: client’s passport, driver’s license, vehicle registration ID, and licenses of the vehicle. The client is only required to take a picture of the relevant document; Smart Engines recognition module will capture all the necessary data automatically and enter it into application for further processing. The whole process now takes less than a minute.
Soglasie has previously integrated Smart Passport Reader to enroll new customers who needed to acquire driver’s insurance policy online, which reduced the time they had to spend on the application form from 10 minutes (at minimum) to less than 5.
Russia’s largest private insurance company recorded 1.6 million online user verifications in 2018 using Smart Engines recognition technologies
AlfaStrakhovanie, Russia’s largest private insurance company, registered 1.6 million automatic documents uploads to its online portal last year. Such a high number of customers who purchased e-OSAGO electronic insurance policies, indicate that automatic document recognition feature has been very well received. It helps to avoid mistakes, reducing the chance of human error, and saves a lot of time, providing seamless customer experience.
It is worth noting that AlfaStrahovanie is Russia’s first insurance company to introduce automatic document recognition technologies for online user on-boarding. In order to buy eOSAGO one has to upload a picture of a relevant identification document into company’s mobile app or via the website; Smart ID Reader will capture the necessary document data and add it into the required fields.
According to AlfaStrahovanie, the identity data of company’s customers is one of its most critical resources; therefore, great attention is being paid to users’ data safety. Both technical solutions and organizational measures are aimed at that. In addition, personal data processing falls under state legal regulation, thence the company makes sure that the technology it integrates is in accordance with compliance regulations.
Dukascopy Bank integrated Smart Engines MRZ OCR solution into its mobile banking platform.
Dukascopy Bank is a Switzerland based bank that provides online mobile banking, financial and trading services through the SWFX – Swiss FX Marketplace, the Dukascopy’s ECN proprietary technological solution and registered trademark.
The bank’s plan was to find a document recognition service provider with an extensive expertise in computer vision. One of the top priorities in their search was to find a solution, that would allow to integrate the OCR SDK into both server components and mobile applications. Among the other important aspects were consistency, speed and the size of the OCR library.
Dukascopy Bank opted for the MRZ recognition that complied with data security regulations that exist in those jurisdictions where the bank operates.
We were delighted to meet a team of passionate professionals who successfully turn scientific approaches into stable solutions for numerous companies in the financial sector. We also appreciate the openness of Smart Engines team and the willingness to provide operational technical support. The integration of Smart Engines OCR solution enables our bank to take a new step towards convenience and speed of remote customer service, which allows us to get closer to our goal — let our customers open bank accounts in a matter of 5 minutes.
Tinkoff is Russia’s first and only direct bank with over 5 million customers. CS Group PLC, the bank holding company has been listed on the London stock exchange since October 2013.
As one of the highest-scoring independent bank in Russia, Tinkoff Bank relies on cutting edge technology to achieve the smoothest and most convenient delivery of its products to its clients. With absolutely no retail branches, this customer-centric bank serves its clients remotely via online channels and its call center. Thus, the automatization and simplification of data manipulation becomes essential for this fintech company.
The challenge that faces Smart engines to make Tinkoff‘s vision a reality.
Tinkoff Bank’s vision was to simplify data entry in their mobile applications infrastructure to improve the speed and accuracy of the bank’s representative when registering client’s data. The immediate consequence is to save Tinkoff ‘s clients’ time by improving in the meantime their experience. The bank signed up a partnership with Smart Engines for their OCR bank cards and ID recognition solution.
Powered by the Hieroglyph technology, those 2 solutions allowed Tinkoff Bank to recognize all digital and alphabetic fields on bank cards to automatically extract not only the card number, but also the expiration date and card holder name. This functionality has become relevant for Tinkoff Bank with the need to enter clients’ full information about the card when carrying out various payment transactions.
The Smart IDReader bank cards recognition module has provided high quality recognition in various lighting conditions, for any background images of cards, as well as when entering data from old bank cards. The achieved precision of bankcard numbers is currently reaching a staggering 99.52% of successful recognition.
In addition, Tinkoff Bank uses on server-side the Smart Engines solutions in order to analyze scans and photographs of ID by creating a whole ecosystem of innovative document processing technology.
As at 1 August 2017, the bank was the second largest player in the Russian credit card market, with market share of 11, 5%.
We are actively integrating the technologies which allows to save our clients’ time and which are improving the user experience. The solutions of Smart Engines for recognition of various identity documents allowed us to simplify user data entry on mobile devices and in web-services.
VP & CIO
Improving the user experience is a key element to remain competitive.
Remote authentication of a customer is one of the toughest problem in modern financial, governmental and other industries. Post Bank implemented a technical solution for the entire retail network that allows to automate the manual process of entering new clients’ passport data when processing financial products. The document entry technology provided by Smart Engines allowed Post Bank to become one of the first banks in Russia to have a sophisticated ID entry system which improves user experience like never before.
Smart Engines helped Post Bank for speeding up their business process.
The new service processes a copy or photograph of the client’s passport made by a bank employee using a scanner or web camera, automatically reads information from the image and prefills the fields in the corresponding section of the front CRM system with the data of the second and third pages of the passport of the citizen of the Russian Federation. If the data is recognized correctly, then they are entered automatically. If not, the blank fields will be highlighted in red in order to minimize the risk of further use of incorrect data.
A technology that increase the productivity, then the profitability.
After prefilling the required forms, the employee of the front line checks the client’s passport data with the original document. The productivity of the technical solution for processing passports is 7,500 document recognitions in an hour per single CPU core. At the same time, recognition of one passport image takes less than 1 second.
We found Smart Engines a reliable provider for identity documents recognition technologies. The solution of Smart Engines allowed us to optimize the forms filling process: reduce entry time and minimize staff mistakes during data entry for a range of bank’s financial products. While choosing the recognition system such criteria as recognition precision, speed, support for different platforms, availability, and well-time technical support were of great importance support to us.
Vice President, Head of Retail Business Development
PJSC “Post Bank”