Based on deep learning and digital image processing algorithms, we design and implement an accurate automatic recognition system for bank note text and propose an improved recognition method based on ResNet for the problems of difficult image text extraction and insufficient recognition accuracy. Firstly, a deep hyperparameterized convolution (DO-Conv) is used instead of the traditional convolution in the network to improve the recognition rate while reducing the model parameters. Then, the spatial attention model (SAM) and the squeezed excitation block (SE-Block) are fused and applied to a modified ResNet to extract detailed features of bank note images in the channel and spatial domains. Finally, the label-smoothed cross-entropy (LSCE) loss function is used to train the model to automatically calibrate the network to prevent classification errors. The experimental results demonstrate that the improved model is not easily affected by the image quality, and the model in this paper has good performance in text detection and recognition in specific business ticket scenarios.