FacePhi just reachedreached a new contract with the banking entity Santander Río, with its technological partner, Compusistem. AAn operation that will strengthen the position of the technological company specialized in biometrics recognition within the fintech field in Argentina. With this agreement, the company will increase its client portfolio to over 40 entities, that mainly belong to the financial field, although it also maintains activity with companies of the healthcare industry. During 2019, closed 13 agreements with various entities.
Santander Río is the division of the Santander bank in Argentina. Presently, Santander Río is considered the first private bank of the Argentinian financial system in terms of savings and volume of credit. The branch offices network of this financial entity is composed of more than 460 offices and has more than 3.5 millions of clients. It is considered as one the leading banks in payment methods, foreign trade, transactional services and cash management.
Through this agreement, Santander Río will incorporate into its systems the SelphID product, a digital onboarding technology that will be applied and used in mobile devices, in both IOS and Android systems, as well as in the bank own website. The use of this biometrics technology will improve the user experience among the clients of the Argentinian entity, and it will also contribute to increase the levels of security in the process of creating a bank account and when operating in it.
The SelphID product is a digital onboarding solution that allows to open an account or buy a banking product from anywhere, simply by capturing the identity document on both sides and taking a selfie being matched to the photograph of the document. As the CEO of FacePhi, Javier Mira, has pointed out: “Argentina is a strategic market in our expansion, where we maintain a strong setting up through different organizations that have been using our technology for some years now”.
More than ten million users in the world already use FacePhi’s biometrics technology, with more than 850 million authentications performed. Among the distinctive elements of the products from this company, its success rate stands out, as it is around 99.998%, which makes this biometrics recognition technology a tool that decreases the fraud risk to zero.