Digital ID provider SignD selects Smart Engines for OCR-powered credit card scanning
The partnership will see SignD deploy Smart Engines software for credit card scanning to verify customers without manual data entry.
Based on a photo taken by an individual and using Optical Character Recognition (OCR), the software will read the first name, second name, date, and last four digits of the selected credit card’s number to check if it belongs to the user and if it’s still valid.
According to SignD and Smart Engines, credit card data scanning is performed at 35 ms per frame and with an accuracy of 99.68 percent.
Scanning reportedly works with credit cards issued by all major financial service providers around the world, including Visa, MasterCard, Maestro, and American Express.
“We are pleased that our credit card scanning solution is becoming more and more popular all over the world and allows more and more companies to easily and accurately scan credit card data,” comments Smart Engines CEO Vladimir Arlazarov.
“For us, cooperation with SignD is an important milestone because SignD is a top provider of expert solutions for onboarding and risk management,”
Features of SignD’s platform include digital identity verification, KYC verification, risk analysis, Qualified Electronic Signatures, and compliant onboarding with face biometrics.
The integration of Smart Engines’ OCR will now speed up the process of remote verification of bank cards for SignD users, according to the announcement.
“The implementation of the solution developed by Smart Engines helps us provide a first-class service and make the customer journey through a universal end-to-end platform fantastic,” explains SignD CEO Bernhard Reiterer.
“Credit card OCR is almost instantaneous and safe in terms of processing personal and sensitive data.”
The partnership with SignD comes days after Smart Engines upgraded its document scanning software to include improvements to its biometric face matching and an expanded library of supported ID documents.