FacePhi

FacePhi offers a range of facial recognition identity authentication solutions for transaction approval and digital onboarding. FacePhi’s Selphi software allows the user to perform ID authentication via a selfie. The selfie is encrypted and sent to the bank’s database to be used for payee authentication. The encryptions ensures the user's privacy, as the full image is not sent to the bank. In 2023, FacePhi recorded an annual revenue of EUR 25.15 million (USD 26.4 million).

Key customers and partnerships

In May 2021, FacePhi partnered with Revelock, a Spanish fraud detection company, to provide comprehensive identity verification and fraud prevention solutions for financial institutions. In February 2022, the company partnered with software company Oracle Cloud Marketplace to act as a distributor for FacePhi's digital onboarding and facial recognition solutions. In November 2021, the company also partnered with airport operator Aena to offer identity verification for passengers and employees at a price of USD 1.7 million for four years. Aiming to expand its presence in the LATAM region, FacePhi established a regional office in Uruguay in March 2022, followed by an agreement with Hites, a Chilean department store, to use remote selfie onboarding technology to allow Hites’ customers to apply for credit cards online. In May 2024, the company entered a strategic partnership with Hancom Group, making it the exclusive distributor of FacePhi's products in the Asia-Pacific region.

As of November 2024, FacePhi served over 300 clients across more than 25 countries, with a client retention rate exceeding 95%. The company's technology was being used by several Spanish airlines including Air Europa, Binter, Iberia, and Vueling. Samsung Securities became a technology client in 2024, strengthening FacePhi's presence in the Asia-Pacific market.