FacePhi touts major stock price gains and new biometric onboarding contract in Panama

FacePhi says it had the highest-growth value on the Spanish Stock Exchange over the past year, as it announced a new contract to provide Panamanian Credicorp Bank, S.A., with facial biometrics for digital customer onboarding.

Credicorp will use SelphID to improve the user experience and security of its onboarding processes through the web and iOS or Android-based mobile phones. Since being founded in 1992, Credicorp has positioned itself as a reference agent for ecommerce and online payment transactions, according to the announcement.

During 2019, FacePhi reached a series of international agreements, and arrived on the Asian market, and the company attributes its stock value to those developments and projections for its biometric technology sales. The Spanish biometrics company entered Panama’s financial services market in 2019 with three contracts. FacePhi shares closed 2018 at €0.75 each, and have traded at or near €5 in recent days.

FacePhi CEO Javier Mira says he expects more contracts over the coming months to follow this first new one of the year.

“We have just closed a very good year, in which our business pathway has been consolidating and settling more in the market. This has given us wings to place us as a safe and forward-looking value in the MAB, something that benefits us for attracting new investors and obtaining financing help for our business development,” Mira comments.

FacePhi also announced the acquisition of Spain-based certification service provider Ecertic for $2.2 million just weeks ago to improve its margins for SelphID and increase its identification and authentication market presence.

Article Topics

biometric identification  |  FacePhi  |  facial recognition  |  financial services  |  identity verification  |  KYC  |  stocks