Discover recently donated our Optical Character Recognition technology to the Fintech Open Source Foundation, where the technology can flourish and grow as an open-source project. This is the second open-source project Discover has donated to the foundation since joining in February 2023, highlighting its commitment to open source and the power of community.
Accurate, efficient check processing
Processing check transactions requires an efficient, highly accurate tool to quickly extract magnetic ink character recognition (MICR) lines from check images. Many companies rely on vendor tools that can be costly and inefficient.
The Financial Focused Optical Character Recognition (FIN-OCR) SDK is a system for performing high quality OCR. The tool is capable of handling a variety of financial document processing tasks. The SDK extracts MICR lines from check images, supporting both individual check processing and large-scale batch processing through X9 files.
"We've seen incredible results with the OCR tool, improving the accuracy of our check processing at Discover while mitigating business continuity risk associated with vendor dependencies. We're excited to see how the technology can evolve as industry stakeholders contribute towards it advancement at FINOS," said Dan Gisolfi, Discover Distinguished Engineer and Director of Research and Development.
Growth through community
The decision to donate the OCR technology to FINOS furthers Discover’s commitment to driving innovation in the open and building an ecosystem around areas that matter in financial technology and beyond.
Learn more and contribute
- Read the FINOS project spotlight: Project Spotlight: FIN-OCR
- Learn more about how the technology works: New Open Source Tool Improves OCR Technology
- Check out FIN-OCR & start contributing: GitHub repo
