FacePhi biometric identification technology selected by Banco Supervielle in Argentina

Apr 10, 2019 | Stephen Mayhew

FacePhi continues to build its presence in Argentina with a new deal with Banco Supervielle, the seventh largest private bank in Argentina in terms of loans. FacePhi’s biometric recognition products SelphID and Look&Phi will be integrated into Supervielle’s online and mobile banking security systems to streamline customer identification and provide a better user experience.

FacePhi has been working with Argentinian banking and financial sector entities since 2017 when ICBC Argentina became the first bank in the country to implement facial biometrics in mobile banking. Since then FacePhi has closed seven other deals in the country including Banco Macro, Red Link and Banco Nación credit subsidiary Garantizar.

According to FacePhi CEO Javier Mira, “the agreement signed with Supervielle consolidates our growth in this market, and takes a further step in our internationalization strategy which has allowed us to have more than 6 million users of our technology.”

The company reports that by the end of 2018 more than six million users had used its biometric security systems to authenticate more than 500 million bank transactions. FacePhi currently works with over 30 financial institutions worldwide.