What Is Magnetic Ink Character Recognition?
Magnetic ink character recognition (MICR) represents a pivotal character recognition technology widely utilized by banks and financial institutions. This technology hinges on the use of unique fonts and special magnetic ink, enabling automated systems to accurately read and process the characters printed on financial documents such as checks and drafts.
The core of MICR technology lies in its specialized printing technique, where characters are printed using magnetic ink. These characters typically encompass a 10-digit numerical range (0 to 9) along with specific symbols, arranged within distinct “cells” or small squares on the document. This arrangement facilitates precise and rapid reading by machines.
A distinctive aspect of MICR, compared to other character recognition methods, is its reliance on magnetic ink. This not only enhances the accuracy of the reading process but also significantly boosts the durability and reliability of the information encoded in the documents, ensuring a high level of security and efficiency in financial transactions.