Banco Santander Chooses FacePhi as Benchmark Supplier

FacePhi has solidified its partnership with Banco Santander. The company had previously provided onboarding services for Santander’s Argentina division, and will now be expanding to provide coverage for all Banco Santander clients. In that regard, Banco Santander has selected FacePhi as a benchmark supplier of identity verification technology.

FacePhi is best known for its biometric onboarding solution, which allows people to use their mobile devices to take a selfie and a picture of a photo ID. The solution matches the selfie to the image on the ID to make sure that the two match and that both are authentic. In doing so, FacePhi’s solution enables a fully remote onboarding process for consumers all over the world.

In addition to biometric onboarding, FacePhi will also supply Banco Santander with ongoing authentication services for people signing into their accounts. When they sign in, customers will be asked to verify their identities with facial recognition, and will no longer need to remember a password to complete the login process or authorize future transactions.

Santander’s branches in Argentina, Chile, and Uruguay will be the first with access to the new biometric authentication feature. It will then be made available to the rest of Santander’s clients over the course of 2021.

“The digital transformation of the banking sector cannot be understood without a clear commitment to accessibility,” said FacePhi President and CEO Javier Mira. “Banks are going to be closer to their customers, which implies providing them with a better experience and a totally secure online environment to carry out their operations.”

In February, Banco Santander was part of the judging team that presented FacePhi with Spain’s National SME Award for 2020. FacePhi has since reported a 60 percent sales increase in the first half of the year, and has continued to strengthen its presence in Latin America during that time.

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August 16, 2021 – by Eric Weiss