Optical Character Recognition for Know Your Customer solution

Abstract

KYC stands for Know Your Client. In other words it is a set of rules that help financial companies to check potential clients. The main purpose is to collect enough information about an individual to detect whether he/she would do some illegal actions like money laundering. Usually KYC takes place in banks offline. The customer should be present and have some documents. Often a passport or ID card is enough but this procedure can vary and depends on a particular company and services that person wants to get. The point of KYC is to process documents, check if they are genuine and belong to the customer, and whether the customer has everything to get a needed service. This work researches the KYC verification, using Tesseract and Google OCR approaches.