Innovatrics Sees Significant Potential in Developing LATAM Market

Innovatrics is looking to Latin America in an effort to increase its international profile, with plans to widen its reach in the region. The company notes that it already has extensive public and private partnerships in Brazil, Chile, Mexico, and Peru, and has enrolled more than 30 million customers across the region.

“We are expecting a very bright future in the next 5 years,” said Oscar Flores, Innovatrics’ Director of Business Development for Latin America and Iberia. “Innovatrics will enjoy continued growth in terms of revenue and market share in the region.”

Innovatrics is particularly bullish on its Automated Biometric Identification System (ABIS) platform, which has been leveraged for driver’s licenses and digital certificates. The company released an updated ABIS 7 version of its platform earlier this year, and later rolled the technology into its new Biometric Ecosystem.

So far, five Brazilian states have introduced ABIS driver’s licenses. Innovatrics consequently believes that the public sector will play a significant role in its future plans, although the company is still hoping to make inroads in the private sector, especially with financial institutions that want to adopt multimodal biometric security practices.

“The Latin American market may be incredibly vast and culturally diverse, but each country shares a common desire for local support and a reliable identity management system,” said Innovatrics Brazil and LATAM Regional Manager Carlos Okada.

To that end, Innovatrics indicated that it will soon make its facial recognition technology more widely available throughout the region. The company’s algorithm has scored well in multiple rounds of the NIST’s Face Recognition Vendor Test over the course of the past few months.

Okada went on to explain that Innovatrics tries to work with local communities to figure out which solution makes the most sense for each organization.

“In some cases, we form local partnerships for a complete solution involving hardware supply and document issuance,” he said. “We also recruit local technical business consultants and sell to local integrators.”

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November 6, 2019 – by Eric Weiss