Receipts OCR & Line item classification for multinational banking group

Use case

We were working with one of the leading banking groups in Central Europe. In order to stay at the top of their game they always try to bring innovative solutions to the market. 

In this case their goal was to develop a mobile scanner application for their clients that would automate the extraction of data from receipts and categorize purchased items into spending categories. In order to achieve so, they needed a reliable partner with major expertise in visual AI and OCR (Optical Character Recognition).

Solution

Our team conducted a feasibility study and based on that we designed a mobile app equipped with OCR technology to scan receipts accurately and extract relevant information. 

The OCR is able to extract data and an advanced algorithm analyzing the language then segments them into predefined spending categories. The app could handle a diverse range of receipt types and formats including the partly damaged receipts, ensuring great flexibility. 

Result

The project’s outcome demonstrated the power of OCR technology in workflow automation and document processing. The combination with language analysis leads to enhanced efficiency in expense management for the end user.  

On the other hand, Cognexa succeeded as the only vendor capable of delivering an accurate and universal solution for a variety of receipt types.