With this agreement, FacePhi’s biometric recognition products SelphID and Look&Phi will be integrated into Supervielle’s online and mobile banking security systems. The goals of this is to facilitate customer identification, as well as to provide a better user experience.
The company has been working with Argentinian banking and financial sector entities since 2017, when ICBC Argentina became the first bank in the country to implement facial biometrics in mobile banking. Since then FacePhi has closed seven other deals, including Banco Macro, Red Link, and Banco Nación credit subsidiary Garantizar. As per FacePhi, the collaboration with Supervielle consolidates their growth in the market, and steps further into their internationalisation strategy, which has allowed them to reach more than 6 million users of their technology. Moreover, the company reports that by the end of 2018, over six million users had used its biometric security systems to authenticate more than 500 million bank transactions.
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