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Raiffeisenbank integrates Smart Engines technology into its mobile applications for QR code scanning – IBS Intelligence

Raiffeisenbank integrates Smart Engines technology into its mobile applications for QR code scanning

By Joy Dumasia

Today

  • Europe
  • FinTech
  • Mobile Application

The QR-code scanning technology developed by Smart Engines has been introduced into Raiffeisen Online Russia. The implemented solution improved the quality of QR codes and barcode scanning for payment operations in a mobile application. High scanning precision is ensured even for damaged or non-standard QR codes. Thanks to an up-to-date scanner, the customers can use a QR code to make money transfers, pay for utilities, various receipts, bills, fines, and make purchases.

Raiffeisenbank and Smart Engines share the principles of the sustainable development strategy. The bank innovation implementation process aims to optimize internal processes and increase environmental friendliness and compliance with the best social and corporate standards. The technologies developed by the company’s scientists minimize the environmental impact and reduce the carbon footprint in the machine learning processes and AI algorithms implementation.

The Smart Engine software product allows to scan 1D and 2D barcodes QR, AZTEC, PDF417, DataMatrix, CODABAR, CODE_39, CODE_93, CODE_128, EAN_8, EAN_13, ITF, UPC_A, UPC_E. Customers can scan barcodes on documents, screens, and other surfaces in the video stream or photos. The barcode scanner in the mobile application performs a computation process on the user’s device in real-time.

Pavel Rubakhin, Chief Product Officer, Director of Mobile Banking at Raiffeisenbank, said: “Payment by QR makes purchases quick and contactless. This payment method is customer-friendly per se, but code recognition accuracy is vital for it to work correctly. Thanks to the integration of the Smart Engines scanner, our customers will be able to choose a QR payment method in Raiffeisen Online in any situation – even if the code is poorly lit or the user’s device is equipped with an insufficiently robust camera.”

Vladimir Arlazarov, Ph. D., CEO of Smart Engines, commented: “The implementation of QR code scanning technologies in mobile applications is a pleasant and effective collaboration with Smart Engines. The bank already uses the company’s software product for ID scanning in its branches. The up-to-date QR code scanner instantly extracts data and makes the payment process convenient. QR code payment is one of the key elements of modern remote customer service in mobile banking applications. And we are glad that Raiffeisenbank, a world-renowned bank, has chosen our software product to ensure high-quality barcode scanning in its mobile application.”

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Source: https://ibsintelligence.com/ibsi-news/raiffeisenbank-integrates-smart-engines-technology-into-its-mobile-applications-for-qr-code-scanning/

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