Santander Argentina has selected the SelphID digital onboarding solution of FacePhi, which specialises in developing biometric authentication solutions.
SelphID enables customers to onboard by matching their selfie to the photo provided on their identity document.
The technology will be used across the bank’s online and mobile apps, thereby addressing security concerns during onboarding.
“The use of this biometrics technology will improve the user experience among the clients of the Argentinian entity, and it will also contribute to increase the levels of security in the process of creating a bank account and when operating in it,” the vendor noted.
FacePhi partnered with its technology partner Compusistem to enter into the contract with Santander Argentina.
FacePhi CEO Javier Mira said: “Argentina is a strategic market in our expansion, where we maintain a strong setting up through different organisations that have been using our technology for some years now.”
Santander Argentina is said to be “Argentina’s top private bank” by savings and volume of credit. The bank has more than 460 branches and a customer base of over 3.7 million.
FacePhi’s biometrics tool currently has over 10 million users globally. The vendor claims that its technology has a success rate of nearly 99.998% and lowers the fraud risk to zero.