Enabling Secure Transactions: A Comprehensive Fraud Detection System for Banking and Financial Services Integration
Binding seamless Technology with Finance
GeneralPublished on: Fri Feb 10 2023
About Our Client
Our client and billing solution partner is a leading organization contributing to wealth management technology services based in the United States. They specialize in providing billing applications for RIAs and financial advisors.
Attendance tracking is vital to all companies irrespective of size and industry. Post COVID-19, managing employee attendance systems became a hurdle for our client as the use of existing biometric fingerprint-based scanning machines was prohibited. With no other reliable attendance capturing mechanism, our client switched back to manual attendance which was error-prone and difficult to manage.
The client wanted a biometric touchless authentication solution to mark their employees’ attendance. To get a consultation on facial recognition attendance management software, they contacted the Hexaview team.
To address the client’s challenges, we focused on developing a solution to mark attendance in the most hygienic and efficient way possible by eliminating finger-based biometrics and unhygienic plastic-based access cards.
We collected 200+ employees’ short videos from different angles and created a separate repository for every individual comprising 100+ photos extracted from the video. Then, we sorted and labeled them with names. We divided the program into 3 sub-tasks –
· Capturing the image/video in real-time from the camera.
· Detecting the faces in the image.
· Matching the faces with the uploaded entries in the database and marking the attendance of the person whose name is stored for the detected image.
Our customized smart attendance management system is an AI, Deep Learning-based facial recognition software that can detect faces with accuracy higher than 95%, record entry, and exit timings in real-time.
· Library: OpenCV
· Deep Learning
Impacts on Business
· Real-time attendance tracking: The client can now track the attendance of the workforce in real-time with efficiency.
· Improved safety and security: It increased the authenticity and safety in the workplace through zero contact and helps give secured access to the registered personnel only.
· Reduced human efforts: Our system allows admins to record the attendance of the entire workforce through cameras reducing both time and effort.
· Eliminated human error: Based on artificial intelligence, our system completely eliminated any chances of human error and is completely foolproof.
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