OCR is used to extract data from scanned images in the form of texts and store them in text files or JSON files. ICR is more advanced than OCR Systems because it can detect and properly identify handwritten characters one at a time.
To make the OCR more accurate and to tackle problems like alignment and format of the text we are using an AI driven OCR system where the work of the AI is to properly identify the fields of the images.
KYC or Know Your Customer check is a process used to identify and verify the identity of a customer or client when someone tries to open an account in a bank and tack the person over time.