Facephi launches Canadian subsidiary

Facephi is on an expansion spree: The biometric identity verification company firm has launched a new subsidiary in Canada, as it pursues geographic and sector diversification.

The establishment of a new subsidiary in British Columbia follows Facephi’s entry into the Canadian market in December 2024 through a partnership with the Digital ID and Authentication Council of Canada (DIACC).

“Establishing a local presence in Canada enhances our commercial execution and reinforces our strategy of capital‑efficient international expansion in high‑growth digital security markets,” says Facephi’s CEO, Javier Mira.

The Spain-based company says that the country represents an attractive market for cybersecurity and digital identity products: The biometrics sector within the Canadian banking industry is projected to grow with a CAGR of up to 22 percent through 2028, reaching an estimated US$3 billion, according to a study from Market Size and Trends.

Facephi, however, is facing robust competition in the country, with NEC, Fujitsu, Thales, Acuant, HID and Idemia all vying for contracts.

Aside from Canada, Facephi currently operates subsidiaries in Spain, Brazil, South Korea, the UK, Uruguay and Canada, covering more than 30 countries. The company offers multimodal biometrics, behavioral analytics and AI‑driven risk scoring for reducing fraud.

The firm has recently expanded its footprint in the Latin American market with a new partnership with Argentinian software development company Huenei and an unnamed Central American banking client.

Earlier this month, Facephi also entered the Japanese market through a deal between South Korean IT company Hancom and Japanese cloud services provider Cyberlinks.

Article Topics

biometrics  |  Canada  |  digital identity  |  FacePhi  |  stocks