Biometric digital onboarding platform FacePhi has been picked by Uruguayan financial institution Creditel to support its user experiences.
Creditel, which is part of Grupo Santander, is the second financial institution in Uraguay to leverage FacePhi’s biometric technology.
Through the new technology, Creditel users will be able to onboard with the bank through their mobile phone, using the SelphID service. This tool enables identity verification simply by taking a photo of an identity document and then a selfie. The images are compared and verified.
Earlier in the year, the RegTech company formed a similar partnership with Panama-based Credicorp Bank, enabling consumers to onboard with the bank through remotely with digital identity verification.
Spain-based FacePhi collected a €200,000 investment to support its move into the South Korean market.
Prior to that round, the RegTech bagged €3.5m in equity and €500,000 in a capitalized loan from Nice&Green to support expansion across the American and Asian markets.
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