FacePhi brings facial recognition to mobile banking in Costa Rica

October 30, 2014 - 

FacePhi Biometrics announced it has signed a deal with Coopeservidores to install its facial recognition system for the Costa Rican financial institution’s mobile banking service.

Coopeservidores selected FacePhi’s facial recognition technology after performing several tests in different scenarios and platforms.

As one of the largest credit unions in Costa Rica, Coopeservidores has 26 offices throughout the country that manage more than €600 million in assets.

With this new operation, FacePhi continues its expansion in Latin American according to its business plan.

The company has a presence in 18 different countries, including Latin American markets such as Panama, Chile, Colombia, and Argentina.

Facephi develops and markets facial recognition software with a particular focus on mobile devices to reduce fraud in accounts, for banking, vehicle, private security and public sectors.

Its facial recognition software uses own algorithms, which makes it the original owner of the technology.

Reported previously, FacePhi recently signed a deal with Costa Rican bank Grupo Mutual to install its facial recognition system in the mobile banking service.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.