“The partnership will see Neoris use FacePhi’s biometric technologies used in digitization projects with its clients.”
A new strategic partnership could help FacePhi to further expand its reach in the financial services sector. The company has teamed up with Neoris, a Miami-based digitization consultancy with a strong focus on FinTech.
The partnership will see Neoris use FacePhi’s biometric technologies used in digitization projects with its clients. In announcing the collaboration, FacePhi indicated that one example of these projects is the creation of a digital ID solution based on facial recognition and a blockchain ledger system, enabling end customer onboarding and authentication across multiple channels.
The agreement will cover activities across the US, Europe, Latin America, the Middle East, Africa, and Asia, the companies said.
For FacePhi, the partnership with Neoris is part of a larger effort to ensure that it’s reaching all potential market opportunities. As CEO Javier Mira explained in his commentary on the agreement, it’s important for FacePhi to establish “strategic alliances with companies specializing in digital transformation, such as NEORIS, to keep on developing our business plan and consolidate ourselves in a market as competitive as the one we operate in.”
This kind of partnership is important for Neoris, as well, with the company’s Global Financial Services Leader, Jaime Peñaranda, commenting that “agreements as strategic as the one we have signed with FacePhi are fundamental to continue joining financial institutions in their adventure towards the digitalization of all their processes, with technologies that put the customer at the center of any process.”
The partnership’s announcement comes after FacePhi’s news that it had acquired another financial services client in the Latin America market with Argentina’s Banco del Sol, further reinforcing the company’s solid position in this area.
Like all biometrics solutions, face recognition technology measures and matches the unique characteristics for the purposes of identification or authentication. Often leveraging a digital or connected camera, facial recognition software can detect faces in images, quantify their features, and then match them against stored templates in a database.
Face scanning biometric tech is incredibly versatile and this is reflected in its wide range of potential applications.