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.