ICR Services – A Powerful Alternative to Automate Document Verification
Intelligent Character Recognition (ICR) is the advanced form of OCR that converts handwritten characters into machine-readable zones. This technology is emerging as the solution to OCR’s limitations. While analysing both structured and unstructured texts, ICR algorithms drive more accuracy to identity verification. Where fraudsters leverage various techniques to forge documents and create synthetic profiles, they place barriers in their way by providing authentication across global templates.
Whilst enhancing its learning capacity across artificial neural networks, ICR services provide more efficacy every time it analyses new handwriting. Similarly, solutions such as automated data extraction, customer record management, and prevention of inaccurate entries, are revolutionising the operations of every industry.
Read on for more insights into ICR services and their accuracy-driving benefits.
Detailed Insights into Why ICR Technology is Better Than OCR Tools
Among many others, the biggest distinguishable feature between ICR and OCR is that latter can not recognise handwriting. Criminals involved in document forgery often use fake signatures to retain the validity of the information. Where OCR is capable of extracting data, it becomes challenging to identify fraudulent alterations connected to handwriting. Furthermore, OCR text is easily convertible into MS word documents by using copy paste option.
Businesses deal with tons of documents that they receive in various formats through emails. Incorporating ICR services automate the industry’s identity validation process as it becomes challenging to process every information and template manually. However, OCR has its limits which makes these AI-powered tools more reliable. Further details regarding icr intelligent character recognition include:
- ICR services analyse data through artificial intelligence neural networks whereas OCR systems provide template extractions that do not use this technology.
- OCR involves specific formats for entering information but ICR readers learn how to recognise and analyse various templates.
- Businesses changing their invoices and document formats more often are less likely to rely on OCR as it is suitable for fixed or structured templates.
- ICR services are completely automated while OCR involves paying project administration fees.
- OCR-based systems involve manual interpretation while ICR is completely AI-driven.
- ICR technology is capable of working with different handwritten forms, images, paper documents, and multiple vendors. However, OCR APIs only deal with digital texts.
- OCR files are hard to trace within the businesses’ records as they can turn information into PDFs once. ICR solutions on the contrary make data retrieval convenient.
The Process of ICR Recognition – Explained
ICR services use robotic process automation technology to ensure accurate and error-free results. By using advanced forms of AI, computer vision, and pattern recognition, they streamline the industries’ document verification process. It involves the following steps:
- Customers are asked to upload genuine government-issued identity documents such as ID cards, passports, driver’s licences, and others.
- The ICR tools start scanning images by using their pre-trained APIs.
- System then extracts information in the form of machine-readable codes.
- ICR services then run an automatic analysis of fonts, templates, and any handwritten texts.
- End-users submit signatures in real time for validation under icr handwriting recognition.
- After successful data extraction and analysis, the system cross-validates it within pre-existing databases.
- In case of tampering, the ICR recognition tool flags anomalies itself and asks users to review the documents.
- In case of genuine proofs, the system automatically enters the information into accounts payable records.
The Advantages of Using Scanner ICR Services for Businesses
ICR services benefit industries in various ways from automating their document analysis process to enhancing accuracy during customer onboarding. As businesses move towards digitisation, incorporating AI-powered IDV solutions has become a must-have. Companies deal with e-invoices, receive documents in emails, and assist global users by providing them with remote registration.
Integrating ICR services not only helps businesses cut down processing costs but also reduces the time span for document verification. Therefore, industries are vastly investing in this technology as a means of automating their identity authentication processes.
The OCR technology has some of its limitations which leave loopholes for businesses. On the contrary, scanner ICR lessens the time taken for document analysis. Similarly, customers won’t have to undergo double-checking scanned documents whilst availing hassle-free onboarding.
AI-powered ICR services interpret a variety of formats and document templates. Furthermore, it provides real-time analysis of handwriting for signature validation eliminating fraud risks. ICR algorithms easily convert information on paper documents into MRZs that are easy to store and retrieve. This helps cope with data breaches while limiting the need for paying extra costs to upgrade the storage of files stack
ICR services minimise errors, data discrepancies, and inaccurate results. Due to AI-based self-learning capabilities, these tools provide efficiency to industries’ customer identity authentication processes. ICR recognition takes the application of OCR to unexpected levels by leveraging more validity checks. By deploying automated data extraction, interacting with users for document review, and analysing a variety of templates, ICR services are revamping industries’ secure customer onboarding process.