Multi-class SVM based gradient feature for banknote recognition

Banknote recognition system is the focus of different image processing and pattern recognition research. With the improvement in modern-day banking operations, automated systems for banknote recognition have become pertinent. Recognition of banknotes is a challenging task as banknotes can suffer from defects and images get distorted during acquisition, which raises the need for a robust recognition system to mitigate these flaws. This research proposes a new banknote recognition approach that classifies the principal components of the extracted Histogram of Gradient feature vectors using an efficient error correcting output code technique based on a Multi-Class Support Vector Machine. The method works on both sides of the bank note and efficiently recognize the denomination based on any side of the bill. The system was implemented using the Nigerian Naira, and for experimental evaluation, additional analysis was conducted using the US Dollar, Canadian Dollar, and Euro banknotes. Finally, the system performance was evaluated based on the recognition rate and processing time.