Facephi expands digital trust footprint across regulated gaming, fintech

Spain-headquartered digital identity verification company Facephi says its fraud prevention technology has helped reduce commission scam for Peruvian internet gaming provider The OxiaCore Project by up to 80 percent in the last year. The development comes as the firm also secured shareholder approval for the restructuring of its corporate governance setup, and became a member of an African fintech alliance.

Growing presence in regulated gaming

The collaboration entailed The OxiaCore Project integrating Facephi’s AI-powered fraud prevention to tackle what an announcement describes as fraud related to commission payments and welcome-bonus abuse. Experts have described the booming online gaming industry as a fertile ground for fraud.

According to the company, the partnership not only reinforces its digital trust presence in regulated gaming, but also in other sectors that require strict regulatory compliance, such as traditional banking and fintech.

“Our fraud prevention system, powered by Facephi, has become a key differentiator for our platform. Multi-account fraud is no longer impacting our business, allowing us to scale with confidence,” Daniel García, CTO of The OxiaCore Project, said.

Identity Solution Manager at Facephi, Adrián Sabugo, commented that “as demand for secure digital identity continues to grow, we remain focused on expanding across sectors where compliance, fraud prevention and user trust are critical.”

With its system deployed by more than 10,000 verified agents across several entities, the company says it hopes to process at least a million more digital identities before the year runs out.

Corporate governance restructuring

The company said in a market notice that resolutions adopted during a general shareholders’ meeting of June 30 give the green light for a governance structure rejig.

The changes, the statement said, are intended to lead the firm into a new phase of its growth strategy and strategic plan implementation.

Among the decisions is the reappointment of three directors for a new six-year mandate, and approval of the expansion of the Board of Directors membership from five to seven.

Appointment of the board members and the composition of Board committees will happen in the near future, the statement added.

Member of the Fintech Association of South Africa

Recently, the outfit known by the acronym FINASA announced Facephi’s membership, stating that it will contribute to strengthening trust within the country’s fintech ecosystem and the broader digital economy.

FINASA, which was founded in 2022, said the membership of Facephi is “not just to fight fraud, but to redefine trust in the digital age” as it continues its mission of shaping South Africa’s digital landscape.

The outfit recognizes the company’s biometric authentication, AI-driven risk analysis, and real-time monitoring capabilities, which are essential in preventing different forms of financial industry fraud.

“Every day, South Africans lose millions to digital fraud. For one family, a stolen identity meant their savings vanished overnight, not just numbers on a screen, but school fees, medical bills, and dignity. This is the human cost of fraud. Facephi’s mission is to ensure those stories never repeat,” Facephi Regional Business Development Director, Clinton Scott, remarked.

FINASA Chief Operating Officer, Danielle Lawrence, also commented: “As South Africa’s digital financial ecosystem continues to evolve, trusted identity infrastructure and secure digital engagement are becoming foundational to both innovation and financial inclusion. Facephi brings meaningful global expertise to these conversations.”

Facephi, which does business in more than 30 countries, has accelerated its global expansion drive lately with its Canadian subsidiary launch and a LATAM banking contract.

Article Topics

biometrics  |  digital identity  |  FacePhi  |  fraud prevention  |  stocks