FacePhi increases Latin America presence with BCP deploying SelphID facial biometrics

Spanish biometrics company FacePhi announced today its first contract win in Peru as BCP (Banco de Crédito del Perú) will deploy its SelphID facial recognition-based digital onboarding solution to remotely open an account or buy a banking product through the bank’s web channel or IOS or Android mobile app with just a selfie and photograph of an identity document.

“We have had a very positive and a truly promising year, marked by the significant increase in our turnover in 2018,” says Javier Mira, FacePhi CEO. “We keep objectively good expectations for this year: during this first semester, we have already closed several contracts in Latin America, and we hope to close some more shortly, thus continuing with our solid expansion plan.”

This year FacePhi has added new financial services clients from Ecuador, Panamá, Uruguay and Argentina and participated as a technology partner in a project to deploy biometrics technology in Spain. In May the company opened its first international headquarters in South Korea, with the aim of diversifying its expansion strategy towards this market.

FacePhi serves more than 30 financial institutions worldwide. The company reports more than six million users and more than 500 million authentications through its biometrics recognition technology over the last year.

FacePhi closed its 2018 fiscal year with a turnover increase from 2017 of 66 percent for its facial recognition and mobile biometric technologies, netting €4.48 million (US$5.03 million) and increasing its EBITDA by 49.5 percent. The company attributed its best year of performance since being founded in 2012 to the strategic international expansion plan it has developed.

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