The startup offers facial biometrics at scale for cases such as payments at the checkout, passenger authentication, and strong authentication for digital banks
LONDON, UNITED KINGDOM, July 5, 2021 /EINPresswire.com/ — According to Sifted, a renowned in-depth reporting website about startups and backed by the Financial Times, there are several payment startups to look for in Europe in 2021. Among the 17 most promising is Saffe, a facial recognition provider that deploys its proprietary AI engines to help companies solving fraud issues with a faster, more convenient, and highly reliable solution.
In a recent publication, Sifted has asked five VC investors to nominate top young European startups tackling pain-points in payments, and Saffe was chosen as one of them by the industry expert Mr. Javier Perez, partner at Global PayTech Ventures and former president of Mastercard Europe.
AndrÃ© Coelho, Saffeâ€™s CEO and founder stated the startup is honored and is working hard to live
up to the task of making constant updates in order to maintain its high accuracy and some key advantage factors.
The startup is a leader in the emerging industry of biometrics payments, particularly facial payments. It has been exploring the space for some years and was even granted a license of small payment institution in the UK for this purpose.
With a fine-tuned combination of user experience, security, and processing price, Saffe supports use cases across domains as diverse as facial payments at the checkout in supermarkets, passenger authentication in buses, and transactions on digital banks strongly authenticated by facial biometrics.
The startup has been observing an increase adoption of the technology, especially in the last year, a period in which it has multiplied considerably the number of clients and transactions processed, the latter in the order of several millions per month at the moment.
â€œWe have been able to keep up for the challenge of delivering a robust and highly reliable authentication platform to our clients, processing a rapidly increasing number of financial transactions per second at a very competitive price and a best-in-class user experienceâ€� says Giovani Chiachia, Saffeâ€™s CTO and also a founder.
While the market of facial biometrics in financial services is still focused on KYC processes, Saffe positions itself to next wave in facial biometrics, the one where people will be able to authenticate secure transactions both in the physical and in the digital world via a frictionless, touchless, highly secure, and privacy-by-design experience.
Its independently evaluated (e.g. NIST FRVT) and industry-proven facial biometrics solutions combined with its AI expertise and customer-centric approach certainly allows for that.
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