Banco Nación credit subsidiary Garantizar to deploy FacePhi biometric technology

Nov 27, 2018, 11:46 am EST | Stephen Mayhew

FacePhi announced today that Garantizar, a credit subsidiary of Argentina’s Banco Nación, will deploy SelphID biometric technology to enable secure mobile and web access to the financial institution’s product portfolio with just a selfie.

FacePhi will develop this application in collaboration with Compusistem, an Argentinian company with more than 30 years of experience in software and technology solutions.

This marks the seventh agreement FacePhi has signed with Argentinian companies since it announced a deal with ICBC Argentina in July 2017.

“The new agreement with Garantizar .. allows us to consolidate in a very competitive market,” commented FacePhi CEO Javier Mirawe. “We strengthen our position in Argentina within the technology security sector for access to banking and financial services.”

According to a company statement, FacePhi solutions can be applied to all operating system, in multiple devices and can be integrated in a bank’s services within 40 days. The Spanish biometrics firm notes that its systems registers success rates of 99.998%. FacePhi works with more than 25 different financial entities worldwide, providing its service to more than 6 million users and performing 500 million authentications.