FacePhi agrees with Argentine fintech

he Argentine market is key to FacePhi’s expansion strategy. So much so that the Spanish company has signed a new contract with the fintech Naranja X, an entity that is part of Grupo Galicia, considered one of the most important financial groups in the country. The company specialising in biometric recognition thus adds a new client in the fintech field, where it is widely consolidated, whilst increasing its presence in other sectors such as healthcare, thanks to projects such as the recent introduction of facial recognition solutions in hospitals together with South Korea’s NSSMART.

Within the agreement, the SelphID product will be offered to Naranja X users. This digital onboarding system has been created to enhance security in online access systems and enhance the user experience. Naranja X customers will be able to access the services offered by the application, which acts as a virtual wallet to allow the sending or reception of money between several accounts, without the need for a card.

In addition, it offers the possibility of paying or receiving using QR codes and loading money from the Naranja card, a bank account or by easy payment. Naranja X is a technology company, established in 2019, which has created products to operate in the digital environment through an app. This application responds to the needs of people and companies through digital products and services.

The SelphID digital onboarding tool will be used on the mobile platform and on iOS and Android systems to open the accounts of new Naranja X clients. To do this, they simply capture an image of the user’s identity document on both sides, then take a selfie that is compared with the photograph on the document in order to verify and authenticate identity.

FacePhi’s internationalisation plan has allowed the biometric technology produced by the company, a leader in facial recognition within the financial sector, to be present in more than 25 countries. The recent operation with Naranja X consolidates the short-term growth established by FacePhi in the LatAm area, a market in which an important part of the international activity of the Spanish company is focused.

In connection to this last step taken in the business portfolio, CEO of FacePhi, Javier Mira, states that “we continue with our growth through new agreements, such as this latest agreement with Naranja X, which strengthens our presence in the LatAm market -one of the main cornerstones for the expansion of our company.”

About FacePhi

FacePhi is the leading Spanish company in biometric solutions for identity verification, specialising in facial recognition systems, digital onboarding and safe work environments. Based in Alicante and with a global projection, the company has a presence in more than 25 countries and has carried out more than 850 million authentications, 6 million access programmes and has a strong presence in the banking sector. The use of biometrics to improve the customer experience and protect the data of citizens and entities is the hallmark of the company.

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Inma Jiménez. [email protected]; +34 661 54 64 90

David Sabater. [email protected]; +34 676 889 096