OCR Studio has launched a new AI toolset that works fully on-device and enables banks and regulated businesses to run KYC entirely within their own infrastructure.
Following this announcement, the solution was developed in order to optimise the way companies shorten onboarding times, protect themselves from impersonation attacks, as well as make sure that no client data is exposed to third parties.
Ensuring secure KYC and optimising customer experience
According to the official press release, when it comes to KYC, businesses often face two core requirements: firstly, the procedure must be fast and efficient for the end-user, otherwise customers and clients may abandon onboarding, decreasing the conversion rate; secondly, personal data must remain confidential and under the company’s control. With this in mind, it is crucial to ensure data locality and to avoid involving third parties in customer data processing whenever possible in order to observe strict personal data protection laws that are already adopted in the regions of MENA, Europe, and the US.
With the new toolset, banks and other regulated businesses will be given the possibility to build their own KYC systems that let customers complete ID verification in a secure and fast manner, while keeping all sensitive data secure during ID scanning. At the same time, the KYC solution automatically extracts information from all data fields, including the one with the date of birth, which is especially important for online age verification. Document recognition is expected to run directly on the end-user’s device thanks to the ultra-lightweight neural networks that execute entirely on the central processor, while no images will be sent to cloud services or crowdsourcing platforms, which excludes the risk of a data breach and helps to meet regulatory compliance.
Moreover, the toolset was developed in order to contain a face comparison module. To use it, customers will be required to simply capture a photo or a short video from the front or rear camera of their devices. After this process is finished, the OCR Studio’s solution is set to automatically detect the face, compare it with the photo in the ID document, and evaluate their similarity, aiming to improve the way businesses protect themselves against presentation attacks and impersonation attempts.
The suite of solutions can be easily integrated into a company’s infrastructure, as it can also run on corporate servers to perform KYC directly in the office or be embedded into mobile applications for remote onboarding scenarios. Furthermore, for day-to-day banking and other online services, the system can be deployed on the business’s website through the use of the WebAssembly technology. Regardless of the service channel, the product will deliver high speed and accuracy when verifying customer identity, while also ensuring secure KYC from a desktop computer, tablet, or smartphone.
