Facephi expands digital trust footprint across regulated gaming, fintech

Facephi is expanding its digital trust footprint in regulated gaming and fintech after saying its fraud-prevention technology helped reduce commission-scam losses by up to 80% for Peru’s The OxiaCore Project over the past year. The OxiaCore Project integrated Facephi’s AI-powered fraud prevention to address fraud tied to commission payments and welcome-bonus abuse, with the company noting growing risk in online gaming. Facephi also reported shareholder approval for a June 30 restructure of its corporate governance, including the reappointment of three directors for a new six-year mandate and expanding the board from five to seven. Separately, Facephi joined FINASA, the South African fintech association founded in 2022. Facephi says its system is deployed by 10,000+ verified agents and aims to process at least one million more digital identities before year-end.