Eastnets and Facephi have entered into a strategic alliance aimed at tackling financial crime worldwide.
The collaboration seeks to deliver an end-to-end fraud defence ecosystem, combining Eastnets’ four decades of expertise in anti-money laundering (AML), sanctions screening, and transaction monitoring with Facephi’s advanced biometric identity verification technologies. Together, the companies aim to create a unified framework where compliance and digital identity converge to better protect financial institutions and their customers.
Eastnets provides solutions in compliance, payments, and secure financial messaging, working with banks and regulators globally to ensure AML compliance, sanctions screening, and transaction monitoring. Facephi specialises in multichannel biometric solutions that allow for secure onboarding, identity verification, and multi-factor authentication, supporting financial institutions in offering user-friendly and highly secure digital services.
The partnership delivers a range of integrated solutions, including biometric onboarding designed to streamline customer sign-ups while boosting financial inclusion, mule account detection through AI-powered AML workflows, and multi-layer authentication to reduce identity theft and account takeovers. Additionally, the alliance promotes intelligent compliance with verification tools that blend seamlessly into AML, sanctions, and regulatory processes, ensuring both security and a frictionless customer journey.
The partnership comes as financial crime grows increasingly complex, with the global financial system processing an estimated $3.1tn in illicit funds in 2023 alone. At the same time, institutions are burdened by $206bn in annual compliance costs. With the digital identity market forecasted to expand at more than 16% CAGR through 2029, the companies believe their integrated approach offers a powerful opportunity to improve efficiency, reduce risks, and strengthen customer trust.
Eastnets CEO Hazem Mulhim said, “Facephi shares our mission of protecting financial institutions and their customers from risk while enabling safe, inclusive finance. Like us they are committed to constant innovation to stay ahead in a world where technology can be an enabler for criminals. By combining Eastnets’ AI-driven compliance expertise with Facephi’s biometric innovation, we’re equipping banks to fight fraud and build digital trust at scale.”
Facephi CEO Javier Mira added, “This alliance is far more than a technology integration – it’s about reshaping the fight against financial crime on a global scale. By merging compliance and biometrics, Eastnets and Facephi can protect the financial system end-to-end, offering a defence that is powerful, inclusive and ready to meet the regulatory challenges of tomorrow.”
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