How OCR Technology can be used in KYC | Argos KYC
Using technology is great because it enhances the speed and accuracy of various services. OCR technology is used to convert the text in the images into machine-encoded text. With Optical Character Recognition(OCR), KYC companies like Argos KYC can speed up the process with great efficiency. Argos KYC uses OCR technology to extract data from the submitted documents — mostly ID cards including driver’s license, passport, and others issued from the government.
OCR ID Template
Argos KYC does not stop here. With the converted text from the image, we apply them into a template called ‘OCR ID Template’. Simply said, this technology is about categorizing information collected from the ID cards to be easily searched, edited, and processed. Let us show the example of the OCR ID Template.
Extracted and Categorized Data
Here is a sample of a driver’s license card issued from Texas, USA. On the left side, you can see the ‘Extracted Data’ which is basically uncategorized and unfiltered data extracted from the ID card. This is done by OCR technology. What we see on the driver’s license card, such as name, date of birth, issued date, address, height, gender, and eye color are extracted.
And on the right side, ‘Categorized Data’, data are categorized. And information that is not needed for KYC, such as an address, height, gender, or eye color is excluded. So only adequate information for KYC is selected and categorized.
The categorization is great when the amount of data is hundreds and thousands. With OCR and OCR ID Template technology, Argos KYC can not only extract data but also can categorize and process the data in a very short amount of time. This supports our KYC process with speed and accuracy. Argos KYC supports global KYC and AML Screening. We support more than 210 countries, so identify your global customers any time at anywhere. Argos KYC got you covered!