Spanish startup B-FY brings offline biometrics to US cloud authentication market

Spain-based biometrics startup B-FY has launched in the U.S. market, introducing its cloud-based identity verification and authentication software.

B-FY’s technology verifies user face biometrics against data stored on their own mobile device, side-stepping the risk of mass biometric data theft. The process also includes device verification through a QR code scan.

The company launched two years ago in Amsterdam, offering decentralized biometric technology for integration into partners’ and customers’ applications, and has piloted its technology in Mexico and Spain. It has raised over 35 million euros (roughly US$39 million) so far, and boldly claims it can prevent 100 percent of identity theft and online fraud.

B-FY launched its authentication-as-a-service (AaaS) tool at Identity Week 2024, last week in Washington, D.C.

Company representatives told Biometric Update at Identity Week that the company’s vision is to “elevate the device to the passport level” of assurance.

The company says cybercrime losses amounted to $14.58 trillion in 2024, making the value of fraud prevention clear.

B-FY is targeting the financial services market, for applications including online service access, in-branch identity verification, and enhancing customer experience on mobile apps. The logistics sector is also a target market, for physical and logical access control, and in healthcare, B-FY says its technology is suited to securing access through the user’s mobile device with selfie biometric verification.

The Madrid Golf Federation has adopted B-Fy’s technology to confirm the identity of authorized tournament directors before allowing them to post tournament results online. The organization’s communications director says B-FY’s software was easy to adopt.

Article Topics

B-Fy  |  biometrics  |  face biometrics  |  facial authentication  |  fraud prevention  |  identity verification  |  startup