FacePhi brings its internationalization strategy forward within the Latin American market and strengthens its position in Peru with a new agreement with Interbank. By means of this agreement, the Peruvian financial entity will implement the biometric technology of facial recognition and digital onboarding of the Spanish technology to shield security in the access system for bank accounts and enhance the user experience. The agreement has been conducted through the technology partner Ti-Gestión.
This is the second agreement that FacePhi has been able to reach with an entity in Peru, a country in which it has marketed its biometric solutions since 2019. On this occasion, the agreement includes the implementation of the Selphi facial recognition product to improve the authentication process in mobile and web banking, as well as the SelphID digital onboarding solution to create and open new user accounts. In the case of mobile platforms, the technology is ready to be used on both Android and iOS systems.
Currently, FacePhi maintains is present within the Latin American market in countries such as Uruguay, Argentina, Ecuador, Bolivia, Costa Rica, Panama and Mexico, among others. The signing of this last agreement means “a commercial action that expands our client portfolio, made up of more than 50 entities around the world, but which also allows us to reinforce our implementation in the area of Latin America” says Javier Mira, CEO of FacePhi. An economic market that Mira defines “as essential for our consolidation and growth in the short and medium term”.
The International Bank of Peru was founded in 1897 and changed its name to Interbank in 1996. It is considered as one of the main financial institutions in the country. Its strategy is focused on offering innovative products and a smooth service among the more than two million clients it has.
The Selphi facial recognition tool is in charge of extracting the main characteristics of the user to convert them into a pattern in order to authenticate their identity and be able to operate in the system. FacePhi facial recognition features a passive liveness test and identity verification technology that has recently been certified to ISO 30107, considered to be the most demanding security standard in the industry.
On the other hand, the SelphID solution is a digital onboarding tool that allows to sign up for a bank account or product from anywhere. For its operation, the user must capture the identity document on both sides and take a selfile, which is compared with the photograph of the document to authenticate the user’s identity. This digital onboarding technology has already made more than six million accesses worldwide.