In announcing the new development, FacePhi asserted that it now counts over thirty financial institutions in its client roster, with its technology serving over 6 million users globally. The first foray into the Latin American market started in 2017, when the biometrics company partnered with HSBC Argentina to implement its biometrics technology.
The news comes after the announcement that Spain’s CaixaBank had launched ATMs featuring FacePhi-powered facial recognition, a sign that FacePhi may be looking to further expand applications of its facial recognition technology, according to Find Biometrics. Moreover, FacePhi posted a year-end report in January 2019 showing a 151.67% year-over-year increase in net profit, the online publication continues.
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