With consumers getting more and more familiar with mobile facial recognition technology thanks to commercial products like Apple’s face-scanning iPhone X, and increasingly doing things like banking and shopping online, various financial services organizations are showing interest in customer verification solutions like that of FacePhi. The company’s system is designed to use a standard mobile camera to scan a user’s face for identity verification and authentication. That offers greater convenience for end customers, and greater efficiency for banks; and the numbers illustrate their enthusiasm, with FacePhi having seen a 307 percent increase in profit in 2017, and having recently signed up its 22nd client.
Speaking with FindBiometrics President Peter O’Neill at this week’s Money20/20 Europe event in Amsterdam, FacePhi CEO Javier Mira discussed that strong performance, including another new “milestone” recently reached by his company, as well as his company’s plans to expand beyond the Latin American market in which it has become so well established. Looking ahead, the discussion concludes with Mira’s revelation that new technologies are in the pipeline and could be launched “by the third quarter” of this year.
Listen to our full audio interview with Javier Mira, CEO, FacePhi:
Read more of our live Money20/20 Europe coverage:
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FindBiometrics is Live From Amsterdam for Money20/20 Europe