The technological company will offer its biometric digital onboarding solution to users of this entity belonging to Grupo Santander
FacePhi continues with its expansion strategy and enters into an agreement with the Uruguayan financial entity, Creditel (SOCUR S.A.), through its technological partner SORT Consulting. Creditel belongs to Grupo Santander and is considered one of the largest credit provider companies in the Uruguayan financial system per amount and volume of credits. By means of this operation, the technological company strengthens its internationalization in the Latin American market, a market where a major part of its commercial client portfolio is concentrated.
It is the second financial institution, located in Uruguay, that incorporates FacePhi biometric recognition in their security systems. Creditel users will be able to use the biometric solution SelphID through mobile platforms on Android and IOS systems as well as on the Web, thus joining the more than 10 million users who currently use FacePhi technology throughout the world.
Thanks to this agreement and the use of digital onboarding technology, the Uruguayan entity shall improve the user experience, and will also contribute to enhance security levels in the process of opening a 100% digital account, promoting customer comfort without requiring their physical presence in a bank office to carry out said procedure.
SelphID works in a simple and intuitive way. To start using this recognition tool, it is necessary to take a photo of the identity document on both sides and take a selfie, which is then compared to the photograph of the document taken.
As regards to this last commercial movement in Uruguay, the CEO of FacePhi, Javier Mira, recalled that “it falls within the strategic lines of our expansion plan which, in addition to gain access to the LATAM market, also sets its goals in Asia and the Pacific”. These are internationalization lines, which as Mira defines, “are robust and pursue to continuously expand with new contracts in this country and also in the other countries of the LATAM market”.
Creditel was created in 1993 managing the granting of cash loans by phone line. In 2012 the company is acquired by Grupo Santander and then, has the support of one of the main financial institutions worldwide with more than 160 years of experience in the financial market. Being part of Grupo Santander strengthened the business logic, as well as the products, services and their brand.
In 2016 Creditel’s Mobile Application (APP) was launched. During the first months, it was an informative tool for clients. Immersed in a world of technological progress and digitization, in March 2017 the second version “Creditel in your pocket” was launched, which allowed customers to do exactly the same on their mobile device as in a bank branch.