Digital identity verification is a fundamental pillar for building trust in the banking sector. In the 2024 Gartner® Market Guide for KYC Platforms for Banking, Facephi has been recognized as a representative vendor, validating our track record in innovation and technological leadership. Our KYC solution not only ensures regulatory compliance but also delivers a fast, secure, and seamless user experience worldwide.
KYC: more than compliance, a competitive advantage
The digital transformation in financial services has accelerated the need for remote onboarding processes that are both secure and intuitive. Today, the Know Your Customer (KYC) process is essential—financial institutions must go beyond merely meeting regulations to offer a rapid, reliable, and frictionless customer experience.
Why Facephi is a leading solution in identity verification technology ?
Gartner® identifies the most effective KYC solutions as those that integrate automation, advanced biometrics, and adaptability to diverse regulatory environments. Facephi perfectly aligns with this vision by offering a modular and scalable solution that includes:
- Facial recognition with passive liveness: validates user authenticity without forced interactions.
- Support for over 20,000 official documents: enables seamless scaling of identity verification in global markets.
- Verification processes in under 10 seconds: accelerates conversion and enhances the onboarding experience.
- Comprehensive regulatory compliance: ensures conformity with eIDAS 2, GDPR, AML, and regular checks against PEP and sanctions lists.
Tangible benefits for the banking sector
Facephi’s KYC solutions have transformed how financial institutions manage identity verification. Key benefits include:
- High conversion rates: with simple, customizable onboarding flows, we achieve conversion rates exceeding 89%.
- Effective fraud prevention: our technology detects sophisticated threats, such as synthetic identities and deepfakes.
- Continuous identity verification: guarantees security for every transaction without disrupting the user experience.
- International coverage: facilitates market expansion by meeting global regulatory standards.
Towards pKYC: the future of verification
Gartner® highlights a growing trend toward Perpetual KYC (pKYC), a model based on continuous monitoring of the customer profile. Facephi’s solutions—combining advanced AI, behavioral biometrics, and real-time analytics—are already prepared for this evolution, providing a dynamic response to sophisticated fraud and ever-changing regulatory landscapes.
Building trust from the first verification
In our opinion, the recognition in Gartner®’s Market Guide reinforces our commitment as a key technology partner for financial institutions aiming to accelerate digital transformation without compromising security. At Facephi, we don’t just meet KYC requirements—we redefine identity verification in the digital banking era, enabling our clients to build lasting trust from the very first interaction. We feel, with this recognition in the Gartner® Market Guide, Facephi reaffirms its role as a leading provider of identity verification and KYC solutions for the financial sector.
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