FacePhi exceeds forecasts, reports 307% jump in profits

With 21 banks now using its software and services, Spanish facial recognition firm FacePhi is reporting a 307 percent jump to a net profit of 457,205 euros for 2017.

The company feels this upward trend will continue in 2018, given FacePhi’s aim to increase the size of its international business with a presence in the U.S., European and Asian markets.

Shares in FacePhi rose by 60% over the year, from €0.68 on January 1, 2017 to €1.09 on December 31, 2017, with FacePhi being one of the most promising companies listed on the MAB (Alternative Madrid Stock Market).

The Industrial and Commercial Bank of China (ICBC) and HSBC are among its main customers.

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