The intelligent document processing market is most likely to acquire a share of $5.2 billion by the end of 2027. These modules enhance the examiner’s ability to automate the processing of large data sets with precision and accuracy. Although these operations enhance the business’s productivity, they require intelligent character recognition (ICR) solutions to differentiate between characters represented in the documents.
For this reason, businesses must incorporate ICR processing devices to streamline customer onboarding and identity authentication procedures. These services are powered by image-capturing operations, which automate the conversion of physical documents into a machine-understandable server.
What is ICR Software?
ICR processing, most formally known as intelligent character recognition, is the practice of examining the customer’s identity documents by transforming handwritten data into digital formats. These operators are capable of extracting the variety of words, fonts, logos, and designs that are shown in handwritten documents. They effectively identify all these attributes and screen out all the forgery attempts, such as editing, alterations, and data fabrications.
The Intelligent character recognition module is the advanced version of optical character recognition (OCR) scanners and plays a crucial role in the identification of fraudulent activities. The ICR processing modules seamlessly align with the working operations of various business operations, which allows them to manage piles of customer data sets in real time. Furthermore, intelligent character recognition processors eliminate the manual data entry and recognition process, which is very tedious and often leads to inaccurate results.
Process of ICR Scanning Operations
The effectiveness of ICR processing relies on compliance with various essential steps, which stimulate the productivity of diverse business operations. These steps are discussed below:
- The ICR identity authentication process begins with the submission of the customer’s handwritten documents to the authentication servers. These documents are scanned through ICR processors, which evaluate all the elements individually.
- ICR processors examine all the elements of the documents and drive accurate results in real time.
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Identify the Difference B/W ICR Intelligent Character Recognition and OCR Services
Intelligent character recognition (ICR) is a more advanced and automated version of the optical character recognition (OCR) operators. The major difference between the two processors is their ability to recognize different data formats. The ICR operators thoroughly recognize the context of handwritten documents. Alternatively, the OCR processors are capable of examining printed documents that are usually in structured formats.
Moreover, the ICR processing operations effectively identify a variety of fonts, data styles, and logos represented in the documents. In contrast, the OCR scanners are unable to identify complex fonts in real time.
Applications of ICR Technology
ICR processing operations are applicable to stimulate the document’s segmentation and recognition operations. Some of its most critical applications are examined below:
| Document Pre-processing | ICR processing operations effectively adjust the image angles, remove all unnecessary textures, turn grayscale documents into black-and-white formats, and convert slanted words into straight words. |
| Document Segmentation | The intelligent document processing systems categorize the document’s content into various segments. These operations separate every line and word in accordance with their unique field. ICR processors |
| Document Recognition | These processing modules assign a unique score to each character through which the processors recognize the different characters and their meanings in real time. |
| Document Post-processing | Finally, all the processed information is reviewed to recognize and rectify all the errors that may disrupt the accuracy of the document processing operations. |
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Use Cases of ICR Scanning
ICR processing operations play a critical role in the identification of document forgery and manipulation attempts. Some of its most critical use cases are examined below:
- Banks incorporate the ICR processors to evaluate the authenticity of customer’s loan applications and transactional attempts.
- Educational institutes use these operations to evaluate the legitimacy of student’s handwritten academic records.
- Online retailers can also utilize intelligent character recognition solutions to authenticate the customer’s signatures. This ensures that the customers are legitimate entities and are not exploiting the e-commerce operations.
Advantages of Intelligent Character Recognition
Intelligent character recognition (ICR) data processing operations are capable of streamlining the business’s document verification operations. ICR processing operations are pivotal for the identification of document forgery and identity theft attempts. These scanners effectively evaluate all the data alteration attempts as they are equipped with machine-learning modules. Moreover, the incorporation of automated processing solutions in the ICR operations intensifies the business’s ability to manage the customer’s documents and ensure the security of their confidential information from illegal external access.
Final Thoughts
ICR processing is revolutionizing the business’s capacity to evaluate the identity documents of various customers instantly. These scanners are backed with automated modules, which stimulate their ability to recognize all the forgery attempts precisely. Furthermore, intelligent character recognition solutions are more effective and beneficial than traditional OCR scanners. The reason for this is their ability to examine the handwritten text in real-time. Additionally, intelligent character recognition processing modules are applicable in various business scenarios. They stimulate the business’s data management and processing operations and provide streamlined results in real time.