New age digitalisation initiatives give rise to a new challenge, with click upload features in mobile/web apps, invoking struggles in maintaining consistency in size, format and quality of the documents thus sourced via mobile phones and other non-standard sources. Advancements in mobile phone camera technology have increased the file size exponentially. Each click putting additional load on Mobile app performance, data transfer load, RAM consumption for the web as well as backend applications in addition to exponentially high storage costs. Adding to the challenges is that sometimes companies also have many customer documents in an uncompressed format stored in its document repositories, which later becomes difficult to store, process, extract and access.
To overcome these challenges, XBiz Techventures has packaged a set of tools under its Computer Vision division called DigiVision into a 5 in 1 Digi-Magica suite which covers File Compressor, Type Converter, File Splitter, File Concatenation and image quality Correction engine.
One of the quickest ROI benefits of the suite is solving the big problem companies are facing with videos. Video use cases are emerging fast in BSFI. For example, Videos are recorded for Video KYC as per RBI & IRDAI guidelines, where customer’s and agent’s video interaction are recorded to onboard customers remotely. General Insurance companies record videos of insurable objects as evidence for pre-inspection, underwriting and claim processes. ATM machines are recording videos of customers using AI-ML engines to identify emotions to detect frauds or if the person is wearing a mask, sun-glasses, cap, helmet, etc to hide identity.
Videos are expensive to store and retrieve even if stored on Cloud. Companies are facing storage problem as videos recorded from apps, drones, CCTV cameras, web-cams or mobile cameras come with huge file size and are heavy on data networks.
Using XBiz Techventures’ Digi-Compressor companies can compress images, videos, documents, pdf files up to 1/20th or 90% under the specified condition at source and save 90+% on storage cost in real-time as well as using it in batch mode, allows both in App processing as well as helps in compressing historic documents. Digi-Compressor supports all popular file formats and can be used without internet connectivity. Digi-Compressor also sets the best parameters on files so that OCR can be performed (if required) on such files in the future with enhanced readability.
More details are available at https://www.xbizventures.com/Digi-Magica