FacePhi has obtained the Pinakes certification, a recognition that distinguishes the company as an approved technology provider for any Spanish bank. In this way, FacePhi’s digital identity verification technology becomes part of the supply chain of the Center for Interbank Cooperation, a banking association that promotes and develops ideas of interest to the sector, and which reports to the Bank of Spain.
The new European regulatory framework EBA/GL/2019/02 obliges European financial institutions to carry out security audits of all technology providers to whom they outsource critical tasks for the development of their operational and control functions. With the Pinakes certification, these providers go from having to carry out an audit per client to obtaining a single certification that is used by all Spanish banks.
In order to obtain this recognition, FacePhi’s security level has been evaluated in three aspects: integrity, confidentiality and availability, achieving a AAA rating, which means that the highest possible score has been achieved. Therefore, the financial entities that contract the company’s technology will have the reassurance that they are obtaining a higher level of compliance in information security and cybersecurity compared to other providers that do not have this distinction.
This certification provides facilitations in the application of the company’s solutions in all types of Spanish financial institutions, from the largest to the smallest, such as Saving Banks. A use that becomes easier thanks to the launch of FacePhi’s Digital Identity Platform that allows the implementation of its technology in all types of companies, regardless of their size.