FacePhi’s Full Year 2018 Update Reflects Biometric Banking Successes

“The company gained strong market traction in recent years with its flagship selfie-based mobile authentication solution, and last year dramatically expanded its offerings…”

FacePhi closed out its 2018 fiscal year with a turnover of €4.48 million, a 66 percent increase, the company has announced. EBITDA, meanwhile, came in at €1,279,804, compared to €855,929 in 2017, reflecting a 49.5 percent jump.

It’s a continuation of FacePhi’s solid growth trajectory. The company gained strong market traction in recent years with its flagship selfie-based mobile authentication solution, and last year dramatically expanded its offerings with the launch of inPhinite, a comprehensive authentication platform featuring support for facial, periocular, and voice biometrics, among other capabilities.

In a statement announcing the 2018 results, FacePhi CEO Javier Mira emphasized that the company is poised to continue its ascent, asserting that the figures “show the positive path taken” by FacePhi, and that “we are confident that it will be strengthened in 2019 with the achievement of new contracts.

“So far this year, we have managed to close agreements with HSBC Uruguay and Supervielle, and we have announced our collaboration as technology partners in a pioneering project with CaixaBank to introduce facial biometrics recognition in ATMs,” Mira added, referring to recent partnerships that have extended FacePhi’s presence in the Spanish and Latin American markets.

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(Originally posted on Mobile ID World)