Industrial Bank (China) & Yunmai Technology Joined Hands for Streamlined Banking Practices with the Use of OCR Technology


2016-11-03, Xiamen: Yunmai Technology, the China-based OCR service provider, announced its partnership with Industrial Bank (China) in terms of embedding Optical Character Recognition (OCR) technology in the banking system.

Industrial Bank (China) has shown the determination to speed up its increasingly hustle-and-bustle banking business with the application of all-in-one ID card recognition, business card recognition, and bank card recognition techniques in its banking system as well as its smart-phone apps. “The combination is turning the form filling and e-banking into foolproof self-services, and more!”, says Mr. Colin, the Marketing Executive from Yunmai.

While enjoying the enviable growth of profits it brings to do business in the world’s most populous country, China-based enterprises also suffer from the pain of tackling with the flood of people lining up to get business done. Chinese news coverage has reported outraged citizens towing a whole sack of small denomination coins, after hours of waiting in the queue, to the bank counters to deposit, making the clerk spend hours in return to calculate them, to manifest their anger in the bank’s lack of efficiency.

Self-service terminals have long been introduced to deflect the traffic, together with the mass distribution of ATMs here and there. The stress has been relieved to some extent, for sure, yet the problem still exists. To further address to the predicament, China banks are now bringing in advanced technique from other fields to help streamline the workflow, OCR included. Opening bank accounts from home is already realized in some banks, and feel free to envision the possibilities of getting more things done quick and neat with butts deep-set in the cozy sofa at home in the near future.

Industrial Bank (China) is one of the first batch of joint-stock commercial banks in China approved by the State Council and the People’s Bank of China. Since the day of its establishment, the bank has soared high in its net profits and total assets. The latest Top 1000 World Banks list featured the bank’s ever-rising momentum with its new-record rank at 33.

Yunmai Technology, Ltd. is one of the largest OCR SDK providers in China with products covering Bank Card Recognition, Business Card Recognition, Form Recognition, Document Recognition, etc. By delivering feasible, sustainable and state-of-the-art OCR solutions for both enterprises of all scales and indie app developers, its business antenna has been extended to quite a range of industries and trades.