The move comes as businesses increasingly seek secure and efficient Know Your Customer (KYC) and Anti-Money Laundering (AML) processes in the face of growing digitisation and fraud threats. Facephi's solutions aim to streamline KYC and identity verification processes, enhance security, and improve the customer experience through secure authentication and onboarding methods. The offerings include digital onboarding and KYC, advanced OCR data capture, authentication, document verification, real-time AML screening, video onboarding, and other multi-biometric digital identity verification capabilities.
In addition to making its solutions available on Temenos Exchange, Facephi will collaborate with Temenos on a Proof of Concept (POC) project to ensure the optimal adoption of its solutions on Temenos Banking Cloud. The partnership aims to underscore Facephi's commitment to providing high-quality solutions that address the evolving needs of businesses and customers.
Temenos Exchange allows fintechs and software developers to bring new banking solutions to market quickly and at scale. The marketplace offers pre-integrated and approved fintech solutions that can be easily deployed on top of the Temenos platform, allowing banks to accelerate the development of new financial services while reducing development costs.
In the company press release, representatives from Temenos highlighted the role of Temenos Exchange as an accelerator for fintechs and developers, enabling them to develop, validate, and monetise banking solutions efficiently. The partnership with Facephi expands the reach of its solutions, serving over 3,000 clients in 150 countries worldwide.
Officials from Facephi expressed enthusiasm for collaborating with Temenos to benefit organisations globally, emphasising Facephi's decade-long dedication to delivering secure digital identity solutions.
Facephi specialises in secure and user-friendly digital identity verification solutions leveraging biometric technology. With a client base spanning various industries globally, including banking, financial services, fintech, health, and transportation, Facephi aims to harness the power of digital identity for all using AI-powered multi-biometric solutions.
In November 2023, UAE-based digital bank Mbank partnered with Facephi to provide seamless and secure digital banking for its clients across the UAE.
Through this dynamic partnership, Mbank UAE aimed to streamline and enhance its onboarding process, providing customers with a seamless and secure experience. Facephi’s advanced facial authentication technology played an important part in achieving this goal, setting a new standard for digital interactions within the banking sector in the UAE.
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