FacePhi partners up to provide South Korean hospitals with facial biometric authentication
FacePhi has entered a partnership with Nssmart to develop biometric facial recognition authentication kiosks for hospitals in South Korea, the company announced.
“The alliance with Nssmart facilitates our entry into the Asian market, as demonstrated by this first contract in the healthcare sector in South Korea. Thus, we meet one of our most immediate development goals,” said Javier Mira, co-founder and CEO of FacePhi, in the announcement. “In addition, it will allow us to gain weight in this sector, an area in which we have been present since last year and in which we have broad commercial expectations.”
Nssmart is a South Korean developer of automated operations solutions for hospitals and other facilities in the country. The company has just signed a partnership with the largest hospital in South Korea, which will allow patients to use facial recognition for authentication through kiosks, reducing the need for health cards or registration numbers.
“We will expand the fields of application of the facial recognition solution, not only in hospitals, but also in universities or anywhere that requires ID verification. It will undoubtedly improve the comfort of the identity verification process,” said Nssmart CEO Kim Jin-woo in a statement.
FacePhi has an established presence in Latin America and Europe, and gains a foothold in the large Asian market with the new deal.
Last year, the government decided to boost the patient ID check process to boost security and prevent fraud. The partnership with FacePhi and the integration of facial recognition authentication will not only reduce cost associated with health cards, but will enhance medical insurance processes, the company claims.
FacePhi has recently started trading on the Euronext Growth exchange in Paris at a value of €7.98 (US$8.65 per share) per share, giving the facial biometrics company a total valuation of approximately €105.95 million ($114.91 million) at opening.