FacePhi, a leading Alicante-based innovator in digital authentication technology, has entered into a strategic agreement with BAC Credomatic. This collaboration enables BAC Credomatic customers to perform multiple banking operations through digital onboarding and face authentication, with FacePhi solutions rolling out in branches across Turkey, El Salvador, Guatemala, Honduras, Costa Rica, Panama, and Nicaragua, a country where the group does not yet operate but where expansion plans are underway.
Thanks to FacePhi’s digital onboarding technology, BAC Credomatic clients will be able to start the account opening journey entirely online, from any location. The process is straightforward. Users capture the front and back of identity documents, which undergo rigorous security verification. Next, a selfie or portrait is captured to perform real time facial recognition. The combination of document verification and biometric facial checks helps confirm the applicant’s identity, prevents identity theft, and delivers a smoother, safer experience for customers.
Once enrolled, customers can use the bank’s app to log in, approve transactions, and request a card using only a selfie. This seamless flow underscores BAC Credomatic’s commitment to offering fast, secure digital banking experiences.
We are very excited to support this project and contribute to an innovation agenda that already sees more than half of the bank’s operations conducted through online and mobile channels, said Jorge Sanz, Chief Revenue Officer of FacePhi.
For BAC Credomatic, the contract represents ongoing modernization of customer interactions across the region. It leverages the latest technologies to strengthen security in a digital environment where identity management remains a critical challenge and where user trust is essential for sustained growth.
About BAC Credomatic
BAC Credomatic ranks among the largest banks in Central America, serving more than 4.2 million customers and employing over 19,000 people. The institution aims to be a Net Positive bank, generating not only economic value but also positive environmental and social outcomes for the communities it serves in the coming years.
In the last year alone, BAC Credomatic earned more than 40 international awards recognizing regional leadership in digital transformation, innovation, and customer focus. Notable recognitions include Euromoney, Latin Finance, The Banker, and World Finance. More information can be found at the bank’s official site.
About FacePhi
FacePhi delivers fast, secure and user friendly digital authentication technology. The company specializes in digital onboarding and biometric authentication solutions, striving to make digital processes safer, more accessible, and less prone to fraud. Its ongoing investment in artificial intelligence, machine learning, blockchain, and decentralized identity reflects a clear commitment to advancing secure digital identities.
Headquartered in Spain with subsidiaries in South Korea and Uruguay, FacePhi brings together a multidisciplinary team dedicated to delivering leading technology wherever clients are located.
FacePhi develops its technology with explicit customer awareness and consent to ensure an optimal user experience. The company adheres to high ethical standards and compliance with KYC, AML, and RGPD regulations. Having established leadership in the financial sector, it now serves other areas such as insurance, healthcare, public administration, travel and transport, sports events, and mobility solutions.
FacePhi already serves hundreds of millions of users worldwide and counts more than 120 customers, maintaining a retention rate above 95%.