FacePhi Deemed Compliant With Financial Intelligence Authority Requirements

An external audit conducted by Certeidas has certified that FacePhi’s technology is compliant with the requirements of Spain’s Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (SEPBLAC).

Founded in 1993, SEPBLAC is a state agency tasked with gathering and disseminating financial intelligence with respect to money laundering and terrorist financing. In announcing that its technology had met SEPBLAC’s requirements, FacePhi explained that this essentially means that SEPBLAC has approved the use of FacePhi’s remote account opening tools for banks across the Spanish territory.

In a post on the company’s website, FacePhi Quality and Systems Director Jorge Félix explained that the certification “will allow us to offer our solutions to all banks operating in Spain and to position ourselves as a leading supplier.”

The certification’s announcement comes after last month’s news that FacePhi had been named one of the four winners of the UK Government’s Tech Rocketship Awards, in its case for the category of cybersecurity. The Rocketship Awards program is meant to put a spotlight on promising tech companies, and to connect them with accelerator programs and investors in the UK.

That news spoke to FacePhi’s success in expanding on the international stage, whereas the SEPBLAC certification shows the company’s ongoing focus on solidifying its leading position back home. Headquartered in Alicante, FacePhi was designated a “strategic” company by the Spanish Ministry of Industry, Commerce, and Tourism toward the end of last year, signalling its high profile in the country and enabling FacePhi to more easily attract talent from abroad as the company continues to invest in its growth.

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December 5, 2022 – by Alex Perala