Three years in a row, back in 2013, 2014 and 2015 we participated at Finovate Europe. This year, it was time to showcase a new product from our machine vision technology portfolio. At the beginning of the demo, we have amazed the audience by scanning and solving handwritten math equations with Photomath. We continued by showcasing our blazing fast ID card scanner, which is our most popular product in the States.
And then, in the center of the show, there was BlinkReceipt, a real-time mobile SDK that extracts every possible detail from consumer purchase receipts across the retail industry. Like all of our other SDKs, BlinkReceipt also runs locally on-device (no server-side processing). It has high accuracy, scales infinitely, and is the most cost-effective way to collect consumer purchase data. Developing BlinkReceipt is the result of our own custom neural networks and deep learning. We were happy to showcase the results of our hard work by showing how BlinkReceipt works in real time, even on blurred and crooked receipts!
The value of using BlinkReceipt is in the great variability of use-cases: purchase validations, loyalty and reward programs, market research, and personal finance/lifestyle management, amongst other things. It currently supports receipt scanning for over 80% of the US printed receipts. Our plan is to increase US coverage to as close as 100% and expand internationally over time.
There were in total 59 companies showcasing the newest fintech solutions. It is a great honor for us to have been recognized by the audience and be among the 8 chosen companies for the Best of Show award. Take a look at the demo: