Another Korean Firm Adopts FacePhi Biometric Authentication Solution

“The Korean market is being very receptive to biometric solutions in sectors where data security and privacy are essential, such as financial management, healthcare or banking.” – Javier Mira, CEO, FacePhi

FacePhi has further extended its reach in the APAC market with another new Korean contract. The company has announced that it’s providing selfie-based biometric onboarding technology to Hanwha Investment & Securities Co.

It would seem to be a very good fit on a brand level. On its website, Hanwha assures its customers, “Your trust is more important than anything else,” and goes on to discuss the importance of trust as one of its keystone corporate philosophies. Hanwha is gesturing more specifically to earning customers’ trust with respect to managing their assets, but in 2020 digital security is inevitably an important part of the trust equation.

That’s why Hanwha is taking advantage of FacePhi’s SelphID solution, which will be integrated into its SmartM and STEPS mobile applications. Once the technology is integrated, Hanwha clients will be able to open new accounts online, verifying their identities with a simple selfie photo. Not only will this offer convenience to the end user, but it will also heighten digital security and, in turn, reinforce customer trust.

“The Korean market is being very receptive to biometric solutions in sectors where data security and privacy are essential, such as financial management, healthcare or banking,” said FacePhi CEO Javier Mira.

The Hanwha announcement comes after FacePhi formed a partnership with HancomWITH, a South Korean digital forensics specialist, earlier this month. FacePhi opened a regional office in Korea last year in a strategic effort to expand beyond the LATAM market in which the authentication specialist has become so dominant.

“We are happy with the evolution of our company in these first months in Korea, a country that is at the forefront of technological trends and in which we hope to continue progressing, promoting facial recognition at the service of people among one of the most digitized populations in the world,” Mira added.

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October 26, 2020 – by Alex Perala

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“The Korean market is being very receptive to biometric solutions in sectors where data security and privacy are essential, such as financial management, healthcare or banking.” – Javier Mira, CEO, FacePhi

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