“It is a breakthrough in our business strategy, since we are entering a new sector in which we had no presence before.” – Javier Mira, CEO, FacePhi
Spain-based biometric authentication specialist FacePhi has made its first big leap beyond the financial services sector, announcing that a new partnership with Swiss Medical Group has brought it to the Argentinian healthcare industry.
The agreement was established in collaboration with Compusistem, FacePhi’s domestic tech partner in the country. It will see FacePhi’s technology deployed to enable end customers to establish healthcare plans with Swiss Medical Medicina Privada by using SelphID, FacePhi’s selfie-driven authentication solution.
SelphID is a digital onboarding technology designed to leverage document reading and facial recognition technologies to match end users’ selfie photos against those depicted on their official identity documents. This approach to authentication has proven increasingly popular in the financial services industry in recent years, with FacePhi emerging as a prominent solutions provider in the Latin American markets in particular.
Now, the company is expanding into an entirely new business area, as CEO Javier Mira explained in a statement. “It is a breakthrough in our business strategy, since we are entering a new sector in which we had no presence before,” he said, adding that biometric technology offers “practically endless” possibilities in terms of applications. “There are many fields where this disruptive technology can be incorporated, and to which we are open and prepared to start operating in,” he added.
The news arrives on the heels of FacePhi’s announcement last month that it had received a commitment of €4M in capital backing from the Swiss investment firm Nice & Green.