FacePhi previews major gains in revenues and net profit from biometric banking services

FacePhi has announced estimated licensing revenues for its facial biometric services for banks to €4.48 ($5.09) million for 2018, an increase of nearly 66 percent from €2.7 ($3.07) million in 2017, in a preview of its annual results.

The company now has 28 customers, after reaching a number of new agreements as part of an international expansion, including deals with Bantotal, Banco Macro, and Garantizer. Other deals include an agreement with Banco Vision of Paraguay, which will implement FacePhi’s Selphy and SelphID technology in its web and mobile channels.

FacePhi’s EBITDA grew by nearly 53 percent to €1.3 ($1.48) million, and its net profit increased 151.67 percent from 2017 to €1.19 ($1.35) million. The numbers show the company has consolidated its leading position in fintech and biometrics, according to FacePhi CEO Javier Mira.

“Our biometric recognition technology continues to arouse great interest among banking entities, which give us good prospects for the next financial year,” Mira says.

FacePhi demonstrated its new comprehensive biometric solution inPhinite at Money 2020 last year, as it attempted to raise it profile on the international technology conference circuit.

Article Topics

banking  |  biometrics  |  FacePhi  |  facial recognition  |  financial results