Spanish biometrics firm FacePhi has signed an agreement with Banco de Corrientes for the incorporation of its biometric recognition and authentication solutions, and digital ondobarding, Selphi and SelphID, into their systems.Both tools aim to enhance the user experience and strengthen security in the financial institution's systems. Specifically, FacePhi's facial recognition technology will be used in Banco de Corrientes web and mobile banking applications as an authentication method.Also, new clients of Banco de Corrientes will be able to digitally open a new account by using SelphID technology. This biometric digital onboarding product allows the user to sign up for a bank account or product from anywhere. For this, it is only required to take a picture of the identity document on both sides and take a selfie, which is compared on the spot with the image shown in the document.FacePhi's biometric solutions stand out for their high efficiency in relation to fraud rates, as they reduce them to 99.998 %, which considerably reduces fraud levels to practically zero. Across the globe, more than 850 million authentications have been made with the company's recognition technology and it is estimated that more than 10 million users use it.The CEO of FacePhi, Javier Mira, has highlighted that “despite the current and unstable economic situation that we are experiencing worldwide, we continue entering into new agreements and making our client portfolio grow”. “Argentina has always been a key market in our expansion strategy, and the closing of this contract with Banco de Corrientes makes us to scale positions in this country as a benchmark within the biometric sector, while also giving us dynamism as a company in order to continue with our growth in the Latin American market”, Mira added.Banco de Corrientes is a financial entity that currently has more than 40 branches. Its activity is characterized by innovation in financial products and services and together with this, it seeks to boost the regional economy development, as well as providing a highly qualified service to clients.
FacePhi enters agreements with Argentina’s Banco de Corrientes
