Argentinian Lender Turns to FacePhi for Remote Onboarding

FacePhi continues to strengthen its hold on the Argentinian market. To that end, the company has agreed to provide onboarding services for the financial institution Efectivo Sí.

Unlike some of FacePhi’s other Argentinian customers, Efectivo Sí is not a bank, but instead operates as a lending body. The company has offered personalized loans for more than 35 years, and has now embraced the modern era with an online lending platform that allows customers to apply for and receive their loans remotely.

FacePhi will be assisting with that digital portion of the business. Efectivo Sí will integrate FacePhi’s selfie-based onboarding technology into its web platform for loans to provide its end users with a faster and more convenient customer experience. The FacePhi solution uses character recognition to extract information from an identity document, and then uses facial recognition to match the image on that document to a selfie of the user. It also cross-references the information with government sources to make sure it is legitimate.

The project itself is once again being carried out in collaboration with Compusistem. The company has served as FacePhi’s technology partner in Argentina for the past few years, and has already facilitated FacePhi’s deployments with Inviu,  Santander Argentina, and Banco del Sol, amongst several others.

FacePhi currently has more than a dozen financial partners in Argentina and throughout the broader Latin American region, with Inviu standing as one of the most recent additions to the client roster. The company is a benchmark supplier for Banco Santander in Spain, and recently partnered with the behavioral biometrics specialist Revelock to provide more comprehensive fraud prevention services for organizations in the financial sector. As a company, FacePhi has been listed on the Euronext Growth market in France, and on the BME Growth market in Spain through a dual listing arrangement.

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October 6, 2021 – by Eric Weiss