Gini (website) has now released an OCR update for the AI remittance feature “Photo Remittance.” With Gini Pay, customers can pay bill totals via smartphone photo, recognition via QR code with payment information, or direct sharing of a digital document with the banking app. The required information, such as IBAN or amount, is read from the document and automatically inserted. The user then only has to approve the transfer.
“Gini is a specialist in AI solutions focusing on mobile applications that magically simplify people’s lives. We are proud of our homegrown OCR, a unique and technologically leading solution in this field due to its technological capabilities and in combination with AI for image correction” said Holger Teske, CEO of Gini
The specially developed “Optical Character Recognition” (OCR) is used to convert image documents such as scans, PDF files or photos into machine-readable text. The update has already been passed on in full to all customers.
The main advantage of the update is the significant acceleration of Gini Pay photo transfers in the apps of bank and savings bank customers. These are now said to be 38% faster. The extraction quality of the data has also been improved. The service has already been in use for some time at a large number of German savings banks and banks, including Deutsche Bank, ING, HVB, and DKB.
A specialized technology stack based on artificial intelligence improves photo capture, image correction, and text recognition. Through millions of uses, it will continue to be trained as it is deployed to improve extraction rates. Further, he added. According to Gini, the technology has already saved users 192,000 minutes – equivalent to 3,208 hours or 133 days – on 5.3 million documents in May.