The fintech consulting section, in collaboration with Rakuten Institute of Technology, has developed an optical character recognition solution that has been deployed by Rakuten Fintech companies to verify the identity of applicants. This solution screens several thousands of identity cards for verifying users daily. The advantages of implementing this kind of solution are multifold; firstly, it significantly reduces the time taken for identity verification which will consequently lead to the reduced turnaround time for customers, secondly it leads to a huge cost saving since it can allow its employees to focus on more strategic initiatives and let AI handle the repetitive work, and lastly it improves the accuracy of identity verification by preventing fraud and human errors. The solution developed is highly accurate and compares with state-of-the-art in terms of accuracy and efficiency. As per the group responsible for developing the project, they see it as an opportunity to deliver more promising OCR-based solutions like eKYC, electronic know your customer, to several businesses in the coming days.