1. A frequency domain based magnetic ink character recognition (MICR) system, comprising: a computer device having a memory and processor, comprising: a segmentation system for segmenting inputted MICR data into sets of temporal data for inputted characters; a Fourier system for generating a set of Fourier components from temporal data for an inputted character, wherein the set of Fourier components comprises six components including a fundamental and next five harmonics; a normalization system for normalizing the set of Fourier components to generate a normalized set of Fourier components, wherein the normalized set of Fourier components include magnitudes that sum to a predetermined value; and a matching system for comparing the normalized set of Fourier components with each of a set of reference waveforms to determine an identity of the inputted character, wherein the set of reference waveforms comprises a corresponding six components including a corresponding fundamental and corresponding next five harmonics, and wherein the comparing, comprises: calculating a set of difference value between each component in the normalized set of Fourier components and an associated component in a reference waveform; weighting each difference value such that a difference value calculated for a relatively higher Fourier component receives a relatively lower weight; summing each of the weighted difference values; comparing concavities between the normalized set of Fourier components and each set of reference waveforms; and assigning values based upon a degree of concavity matching.