Facephi expands LATAM behavioral biometrics footprint with new banking contract

Facephi has secured a new banking client in Central America. The five‑year deal will see Facephi deploy its mule account detection and behavioral biometrics technology across the financial institution’s operations.

The agreement will see the unnamed bank implement a fraud prevention system that’s designed to monitor the full customer lifecycle. The system counters threats such as synthetic identities, organized fraud networks and automated attacks.

Previously, the UK’s Financial Conduct Authority (FCA) published key findings looking into the role money mules play in enabling fraud, praising firms that use biometric-based safeguards for verification in onboarding, monitoring and reporting, and pushed for more advanced biometric tools.

Facephi’s platform combines multi‑factor biometrics, behavioral analytics and AI‑driven risk scoring in an integrated system aimed at reducing fraud without adding friction for users.

The company says its multi‑layered architecture can identify anomalies and fraud patterns that would be difficult to detect through isolated checks. “Today, digital identity cannot be understood as a static control,” says Jorge Sanz, CEO of Facephi.

“It is a living infrastructure that accompanies the user throughout their digital journey. This project reflects that vision: smarter, continuous protection aligned with the reality of current fraud.”

Facephi has spent more than a decade expanding across the Americas, with deployments in Mexico, Colombia and Canada. The new contract strengthens its presence in the region and supports its strategy of offering an end‑to‑end digital identity and fraud prevention platform for regulated industries in more than 30 countries.

A recent investor positioning document from the company made the argument that with the digital identity and fraud protection markets at an inflection point, Facephi can expect a compound annual growth rate on sales of its IDV, authentication and access, mule account detection, and behavioral biometrics, among others, of nearly 26 percent.

Facephi says major gains in revenue from its biometric fraud protection, in market reach and free cash flow, present an opportunity for profitable growth. Facephi’s first priority among international market regions are LATAM, where the company is in a consolidation phase, and MEA, where it is actively expanding.

Article Topics

banking  |  behavioral biometrics  |  biometrics  |  digital identity  |  FacePhi  |  fraud prevention  |  identity verification