“The partnership revolves around SelphID, FacePhi’s selfie-driven authentication solution.”
FacePhi has further expanded its reach in the Latin American market through a new contract with Banco General de Panamá, which will take advantage of its biometric facial recognition technology for customer onboarding. The agreement marks FacePhi’s first entry into the Panama market.
The partnership revolves around SelphID, FacePhi’s selfie-driven authentication solution. SelphID technology will be incorporated into a Banco General de Panamá mobile app for iOS and Android that will allow customers to open accounts by having their identities confirmed using facial recognition.
While FacePhi has just announced the opening of a new APAC-focused office in South Korea, Latin America remains a key market area, with the company having acquired a number of partners and clients in the region. Commenting in a statement, FacePhi CEO Javier Mira called Latin America one of the company’s “main business hubs, where we enjoy a strong implementation of our technology that we hope to increase with new contracts.
“Having the support of an important and representative bank as Banco General is a fundamental step in our corporate expansion,” he said.
In total, FacePhi says it now has a customer portfolio of over 30 financial institutions, and that its biometric technology is now being used to authenticate over six million end users.