FacePhi, the leading company of Alicante in digital authentication technology for users, signed an agreement with BAC Credomatic that will allow the customers of this financial institution to perform different operations thanks to digital onboarding and face authentication technology. FacePhi solutions will be used in branches in Turkey El Salvador, Guatemala, Honduras, Costa Rica, Panama and Nicaragua, country in which the company does not yet operate.
Thanks to FacePhi’s digital onboarding technology, BAC Credomatic customers will be able to initiate the simple and secure account opening process 100% online from anywhere.
The process is simple. Customers will be able to capture identity documents from both sides, which will be subject to complex security verification. Next, they need to take a selfie type portrait. user face recognition. The combination of both actions allows the identity of the person to be verified, assuring the entity that identity theft has not been committed and that the best experience is provided to the consumer.
Once the user is already a customer of the entity, authentication allows the bank to log in to their App, process transactions and request a card with just a selfie.
“We are very keen to take on this project and contribute to the innovation initiatives of an organization that has already accomplished that more than half of its banking operations are conducted through online banking and mobile banking,” said Jorge Sanz, CRO of FacePhi.
For BAC Credomatic, the contract means: keep innovating with digital solutions for customers Across the region, it uses the latest technology and strengthens the security pillar in a world that is increasingly scarce and also has challenges in managing customers’ digital identity.
About BAC Credomatic
BAC Credomatic is one of the largest banks in Central America. There’s more 4.2 million customers and more than 19,000 collaborators It wants to be a “Net Positive” bank that creates not only economic but also environmentally and socially positive value for the region and all the communities it serves in the coming years.
BAC Credomatic received more than 40 international awards and recognitions in the last year alone, thanks to its regional leadership in digital transformation, innovation and being a bank focused on people and life. Prominent among them: “Euromoney”, “Latin Finance”, “The Banker” and “World Finance”. More information at www.baccredomatic.com
About FacePhi
FacePhi is safe, fast and easy to use technology. A company specializing in user digital authentication, it specializes in digital recruitment and biometric authentication solutions. It was born with the aim of creating more secure, accessible and fraud-free digital processes. To achieve this, it is committed to innovation with artificial intelligence and machine learning, applying blockchain technology, and promoting decentralized digital identity.
Headquartered in Spain and subsidiaries in South Korea and Uruguay, FacePhi has a multidisciplinary team committed to providing customers with the best technology wherever they are.
FacePhi develops its technology with the customer’s prior knowledge and approval to achieve the best user experience. In this way, the firm adheres to high ethical standards and also complies with KYC, AML and RGPD regulations. Today, starting as a leader in the financial sector, one of the most challenging sectors in terms of security, the company has a presence in many sectors such as insurance, healthcare, public administration, travel and transportation, sporting events and joint mobility.
FacePhi already 300 million users worldwide and more than 120 customers with a retention rate of over 95%.