OCR Studio has launched One-Shot KYC, which lets users complete the identity verification step of account opening by taking a single selfie while holding their ID. From that one image, the system extracts the required document data, fills in the registration form and compares the portrait on the ID with the person’s face to check whether the presenter is the document’s legitimate owner.
Conventional know-your-customer (KYC) onboarding usually asks customers to photograph their identity document and then take a separate selfie. One-Shot KYC combines those steps into one capture. OCR Studio, which last month partnered with payment infrastructure provider FinOn on onboarding and online payments, is aiming the product at banks, fintech companies, telecom operators, marketplaces and other digital services. It cites research from Cornerstone Advisors finding that an average of 3.36 online checking account applications are abandoned for every account successfully opened.
Both the ID scanning and the face matching run locally on the user’s smartphone, tablet or desktop, and the company says document images, selfies and extracted personal data are not sent to external servers for processing. The system works without an internet connection and runs in mobile apps as well as in popular browsers through WebAssembly, a format that lets compiled code run inside a web page. OCR Studio previously took the same local approach with an on-device age verification system launched in June.
The company says the technology is adapted for real-world capture conditions, such as customers using it while on the move or on public transport, in poor lighting or with the document held at an angle. It is designed to handle glare, perspective distortion, blur and camera movement so that users do not have to retake photos repeatedly.
OCR Studio secured a trademark for One-Shot KYC from the UAE Ministry of Economy & Tourism in September, in classes covering software and authentication services. At that time, the company said the system supports more than 4,000 document templates from more than 240 jurisdictions in over 100 languages, and returns a face similarity score rather than a simple match or no-match result, so that businesses can make risk-based decisions. Businesses can assess the system’s capabilities and performance through an OCR Studio demo.
Sources: OCR Studio, OCR Studio (trademark)
–
By the ID Tech Editorial Team
