How to Scan IBANs with Your Smartphone

Project Description

How to Scan IBANs with Your Smartphone

IBANs are a fixture in almost all banking processes nowadays, whether on or offline. Unfortunately, the long strings of letters and numbers they consist of aren’t very user friendly. Especially when they need to be typed or manually entered in your online systems. Their length and random nature mean that customers often require their undivided attention to correctly type their IBAN on desktops and phones.

One simple way to make entering IBANs simple on online or mobile platforms is mobile scanning. With mobile IBAN scanning enabled on your app, your customers can point their device camera at their IBAN and let mobile text recognition technology do the hard work.

With Anyline, you can quickly integrate this feature in your mobile app. Find out how you can benefit from mobile scanning below and get in touch to make IBAN sharing as easy as possible for your customers and clients.

Mobile IBAN Scanning is Accurate and Fast

Anyline’s mobile OCR technology is 99% accurate in laboratory conditions. This high accuracy makes it perfect for scanning and recording standardized codes such as IBANs.

With mobile text recognition, you can point your smartphone camera at your IBAN and scan it in an instant. This removes the need to type the IBAN number when completing banking processes. This is much faster than using a keyboard and proofreading the number yourself. In fact, Anyline has been found to be 20 times faster than typing in some cases.

Anyline scans all kinds of text, numbers and codes

This reduces a lot of friction in your mobile app’s UX, which should lead to more successful transactions by your users. Once a scan has been taken of the IBAN, it can be instantly uploaded to your backend system for processing. This accurate and instant service makes mobile banking simple and hassle-free.

Mobile scanning also removes human error from your processes so you should see less failed attempts to enter IBAN numbers in your app. This improvement in data entry will help to optimize your workflows and increases the overall quality of your data by removing falsely typed numbers from your system.

There are multiple studies that show how poor data quality can negatively affect companies. It can impact profit margins, decision making and more, so it’s important to invest in accurate data collection tools in all areas of your business.

Mobile IBAN Scanning is Secure and Works Everywhere

One of the most important considerations for any fintech company is security. Keeping your customers’ information safe and secure is key to success in the industry. With mobile IBAN scanning, you can be certain that the IBANs of your customers will be securely scanned and transmitted to your backend.

Anyline processes 100% of scan data on your smartphone for the most secure experience possible. By processing the info on your device, Anyline ensures that IBAN data never needs to enter the cloud. This is where it’s most vulnerable to security breaches. Instead, your smartphone takes care of everything and once the data is ready, you can safely transfer it straight to your backend via a secure connection.

Anyline is able to perform these secure scans thanks to the technology’s ability to work offline. It’s one of the reasons that we were chosen as a Gartner Cool Vendor in 2018.

Offline scanning also means that you can use Anyline to perform scans in any location. Whether you have a wifi or mobile data connection doesn’t matter, you can still perform scans and upload the results once you return to an area with a mobile internet connection. This agility makes it possible to scan IBANs wherever and whenever you need.

Mobile IBAN Scanning Improves Your Customer Experience

One of the most convenient aspects of mobile IBAN scanning is how easy it is to pick up and use the first time you try it.

Mobile IBAN scanning is simple to perform. Once you’ve located your IBAN, you can activate Anyline to get started. Anyline gives you a camera view that features a cut-out area to scan your target. You just need to line up the IBAN in the cut-out area and Anyline will automatically scan it. It’s simpler than taking a photo.

Anyline is the perfect tool for KYC and banking processes

Alongside the cutout, Anyline will also provide you with haptic feedback to make sure you’re able to successfully complete your scans. This feedback lets you know if the camera is shaking, or if you need more light. This helps to make scanning intuitive and improves the accuracy of results.

More importantly, this ease of scanning means that you don’t need to waste time and resources teaching customers to use Anyline in your processes. Just add it to your app and start scanning!

Success Stories

How Cashpresso Made it Easier Than Ever to Get an Overdraft

Providing a Simple Solution to a Simple Problem

cashpresso is part of the Viennese FinTech startup Credi2, who set out to provide a simple solution to a simple problem.

Getting a loan from a traditional bank can be a hassle, involving lots of bureaucratic paper work. Whether you’re still studying or already pursuing a career, you can always find yourself in a financially difficult situation. Waiting for the bank to do a credit check can take quite some time. If you need the money immediately, that can be a problem.

Access Money Anywhere, Anytime

The vision of cashpresso was to make getting a loan fast and easy. The idea of being able to access money anywhere, anytime and therefore being very flexible was one of their main focuses. It was also important to them to have no overhead or maintenance fees and to let their customers repay as they wish. The flexibility also finds expression in the range of payment plans offered. Customers can choose them as they see fit and change them anytime.

Offer Immediate Money Transfer Using Anyline’s IBAN Scanner

The solution was to develop a platform where customers could easily loan money in no time. cashpresso offers a web page as well as a mobile app for Android and iOS that makes borrowing money as easy as ever.

With the Anyline® SDK, which is implemented in the cashpresso app, the up to 34 digit IBAN is easily scannable. If you already have the bank card right in front of you, you don’t need to tediously type in the long code. You can simply scan the IBAN and make the process of transferring money even faster.

Being able to scan your IBAN is part of modern banking!

How Scalable Capital Improved their UX with Mobile Scanning

Finding a Way to Change an Old-Fashioned Approach

Scalable Capital was founded in December 2014. Their idea was to change the concept of investing and portfolio management and make it applicable to our modern digitized world.

Reducing Emotional Stress When it Comes to Investing

When it comes to investing and managing their assets a lot of people are cautious. That’s why Scalable Capital wanted to take away their fears and help them to better understand risks. Consequently, their vision was to make investment management easier than ever. At the heart of their vision stood the idea to make use of technology in every step of the process. And that’s exactly what makes Scalable Capital’s product stand out.

Scan IBANs & Passports Using Anyline’s Scanner

It’s the first and only investment service to use a technology-driven, data-led investment approach. What does this mean? It means that a team of more than 40 experts with financial and technical backgrounds built a service that makes investment management cheaper, more accessible as well as more convenient for its customers. Not only do they offer a great online portal where customers can overlook their portfolio management, but they also offer a mobile app. Their app is available on iOS.

Scalable Capital realized that it would be very annoying to type in all the personal information (IBAN, passport infos etc.) and data needed for the onboarding process. As they were already using great technology, they decided to make this step technology-based as well. And this is where Anyline came in. Consequently we offered Scalable Capital an incredibly fast and accurate optical character recognition (OCR) SDK.

Scalable Capital uses technological solutions during every step of its processes. Starting with the registration process, users have to answer a few questions to better understand what he/she is looking for in Scalable Capital’s service. The next step is for the user to scan his/her passport to automatically fill in all the personal data requested. But that’s not the only step where the product uses Anyline’s technology. In addition, IBAN scanning is offered within Scalable Capital’s product. In both cases optical character recognition is making the process even faster and easier, as well as less error prone.

Start Scanning IBANs Today with Anyline

Save time and money with mobile IBAN scanning from Anyline. You can improve your customer experience, enhance security and upgrade data capture quality all at the same time. Our technology uses artificial intelligence and machine learning to provide you with a fast and accurate scanning solution.

You can download our free SDK and begin your 30-day trial today. Integrate it with your own app and test your IBAN scanning use case.

For more information and details on how to add mobile IBAN scanning to your app on a permanent basis, get in touch with us. We’re happy to help!

Get in Touch!

QUESTIONS? LET US KNOW!

If you have questions, suggestions or feedback on this, please don’t hesitate to reach out to us via FacebookTwitter or simply via [email protected]! Cheers!

 

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Content Manager at Anyline I like to write blog posts, make product videos and share news about mobile OCR online. I spend most of my time outside the office playing sports and exploring Vienna.