Central regions | Technology & innovation

Russian technology optimizes international banking apps

1 Dec '21
Kaspi, the largest fintech in Kazakhstan with an estimate of $ 21 billion, has introduced Smart Engines technology to automatically recognize bank cards when making money transfers in a mobile application (iOS and Android). The use of advanced Smart Engines recognition technologies is aimed at improving the customer experience in the Kaspi.kz super application.

Thanks to the use of the Smart Code Engine software, it was possible to speed up the entry of bank card data in the Kaspi.kz application. The time for the user to manually enter information has been reduced by 9 seconds, while the recognition process itself takes about one second. On modern smartphones, bank card data recognition is performed at a speed of 35 ms per frame. The recognition accuracy of the bank card number reaches 99.68%.
The use of software products in applications of such a scale as Kaspi.kz is, first of all, confirmation of the quality and relevance of our technologies on the part of leading fintech companies. Improving the user experience is one of the key challenges of modern financial ecosystems, and we are proud that Kaspi has chosen Smart Engines recognition technologies for its mobile superapplication,says Vladimir Arlazarov, Ph.D., CEO of Smart Engines.
Online payments and Card2Card transfers in the Kaspi mobile bank application have become a fast and user-friendly process. Smart Engines technology allows you to quickly scan all types of bank cards, including embossed and flat, as well as vertical cards and cards with data on the back. The Smart Code Engine allows Kaspi customers to securely make payments and money transfers in a mobile application without manually entering bank card details.

The Smart Code Engine software is based on the flagship GreenOCR technology, which provides high recognition speed. Recognition algorithms work in natural conditions - in low and excessive lighting, on the go, as well as when traveling by taxi or public transport. All calculations are performed on a mobile device without transferring bank card images to a third-party service or third parties. This makes the input of personal and sensitive data in the Kaspi.kz application safe for customers.
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Tags: FinTech (11) /

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