HSBC Uruguay Embraces FacePhi’s Biometric Authentication

“The new partnership marks FacePhi’s first foray into the Uruguayan market, though this isn’t the first time it has worked with the global bank.”

HSBC Uruguay Embraces FacePhi's Biometric Authentication

FacePhi‘s upwards trajectory continues, with HSBC Uruguay becoming the latest financial services firm to embrace its selfie-based biometric authentication technology.

The new partnership marks FacePhi’s first foray into the Uruguayan market, though this isn’t the first time it has worked with the global bank. HSBC’s Argentinian started taking advantage of FacePhi’s technology back in 2017; now, the Uruguayan expansion suggests the bank’s Argentinian team saw positive results from their experimentation with the now very popular selfie-based approach to authentication.

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 news comes after FacePhi posted a year-end report in January showing a 151.67 percent year-over-year increase in net profit, further illustrating its rising profile in the global authentication market, not to mention the increasingly popularity of biometric selfie-based authentication in general.

It also comes soon 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 – and further accelerate its ascent.

(Originally posted on Mobile ID World)