Multi-Currency Integrated Serial Number Recognition Model of Images Acquired by Banknote Counters

Abstract

The objective of this study was to establish an automated system for the recognition of banknote serial numbers by developing a deep learning (DL)-based optical character recognition framework. An integrated serial number recognition model for the banknotes of four countries (South Korea (KRW), the United States (USD), India (INR), and Japan (JPY)) was developed. One-channel image data obtained from banknote counters were used in this study. The dataset used for the multi-currency integrated serial number recognition contains about 150,000 images. The class imbalance problem and model accuracy were improved through data augmentation based on geometric transforms that consider the range of errors that occur when a bill is inserted into the counter. In addition, by fine-tuning the recognition network, it was confirmed that the performance was improved when the serial numbers of the banknotes of four countries were recognized instead of the serial number of a banknote from each country from a single-currency dataset, and the generalization performance was improved by training the model to recognize the diverse serial numbers of multiple currencies. Therefore, the proposed method shows that real-time processing of less than 30 ms per image and character recognition with 99.99% accuracy are possible, even though there is a tradeoff between inference speed and serial number recognition accuracy when data augmentation based on the characteristics of banknote counters and a 1-stage object detector for banknote serial number recognition is used.