Banknote recognition: investigating processing and cognition framework using competitive neural network

Humans are apt at recognizing patterns and discovering even abstract features which are sometimes embedded therein. Our ability to use the banknotes in circulation for business transactions lies in the effortlessness with which we can recognize the different banknote denominations after seeing them over a period of time. More significant is that we can usually recognize these banknote denominations irrespective of what parts of the banknotes are exposed to us visually. Furthermore, our recognition ability is largely unaffected even when these banknotes are partially occluded. In a similar analogy, the robustness of intelligent systems to perform the task of banknote recognition should not collapse under some minimum level of partial occlusion. Artificial neural networks are intelligent systems which from inception have taken many important cues related to structure and learning rules from the human nervous/cognition processing system. Likewise, it has been shown that advances in artificial neural network simulations can help us understand the human nervous/cognition system even furthermore. In this paper, we investigate three cognition hypothetical frameworks to vision-based recognition of banknote denominations using competitive neural networks. In order to make the task more challenging and stress-test the investigated hypotheses, we also consider the recognition of occluded banknotes. The implemented hypothetical systems are tasked to perform fast recognition of banknotes with up to 75 % occlusion. The investigated hypothetical systems are trained on Nigeria’s Naira banknotes and several experiments are performed to demonstrate the findings presented within this work.