May 16, 2016 -
Through its partner GBM, FacePhi has secured a contract to provide its facial recognition technology to Banco Industrial de Guatemala.
Banco Industrial is the eighth Central American financial services company to license FacePhi’s technology and is one of the biggest banks in Central America with locations in Guatemala, El Salvador, Honduras, and Panama.
The technology forms the basis for the authentication system on the bank’s new mobile app, which lets customers verify their identities via selfie photos.
According to a statement by the company, the deal has further contributed to FacePhi’s revenues of 1,321,000 euros (roughly $1.5M USD) as of the end of April.
Earlier this year, Banco Nacional de Costa Rica selected FacePhi`s facial recognition technology to authenticate clients using the bank’s mobile app.