4iDigital Launches Operations in Mexico With Biometric ID

4iDigital, a startup specializing in identity validation and fraud prevention for financial transactions, has officially expanded its operations in Mexico, positioning the country as the cornerstone of its Latin American strategy. The company, which already processes more than 1.2 million transactions per month for MercadoLibre, is building partnerships with financial institutions and technology firms to expand its transactions-by-biometric authentication feature and strengthen its market presence. 

“Mexico is a focus for us because the digital ecosystem here is set to grow four to five times in the next two years,” said Dario Fainsod, Co-Founder, 4iDigital. “We believe this market has the potential to reach the same levels as Brazil and the United States, and we want to be part of that growth.”

The company is betting on two pillars to sustain this expansion: trust and user experience. Alongside security, the company is investing in seamless digital experiences. “If users face frustration or security gaps, they abandon the process, and that damages trust,” Fainsod said. “For us, trust and UX must go hand in hand.” 

According to 4iDigital, fraud remains a critical threat to the digital economy, one that undermines trust not only in individual companies but across the entire ecosystem. This challenge is underscored by a recent LexisNexis study revealing that for every peso lost to fraud, Mexican financial institutions incur an average cost of MX$5.27. Furthermore, reports indicate a 32% increase in reported fraud during the first half of 2024 compared to the previous year. “Our role is to ensure that people are who they say they are when they engage with digital services,” explained John Cárdenas, Commercial Director Mexico, 4iDigital. “We have built a comprehensive and competitive solution with multiple security layers to mitigate fraud, including video verification, device reputation analysis, and biometric validation.”

4iDigital plans to introduce a self-sovereign identity solution in Mexico, which it expects to scale across Latin America. The initiative will allow individuals to securely store their personal, financial, and professional data on blockchain and selectively share it when required.

“We want each person to own their identity, perform onboarding just once, and decide with whom to share their information,” Fainsod noted. “This will be the starting point for open finance and open data in the region.” With this technology, users can share and confirm key information without exposing sensitive data.

The company is developing this project in partnership with software firms like IDEMIA and regulatory bodies like the National Electoral Institute (INE), underscoring its strategy of aligning technological innovation with compliance. “We learned through experience how complex these processes can be, but now we are ready to deliver identity services that are secure and viable under Mexico’s regulations,” Fainsod added.

Apart from the INE registry, the solutions check device reputation analysis, video verification, and defenses against increasingly sophisticated fraud methods such as deepfakes. IDEMIA, which has been present in Mexico for 20 years and is now part of France’s Imprimerie Nationale, plays a key role in the ecosystem. “We perform daily biometric comparisons against 140 million Mexicans,” noted Álvaro García, Sales Vice President, IDEMIA. “That credibility and efficiency provide a strong foundation for partners like 4iDigital.”

By combining fraud prevention, secure partnerships, and future-ready identity models, 4iDigital aims to strengthen trust and user experience in Mexico’s financial and fintech ecosystem—two elements the company sees as essential for the sustainable growth of the digital economy.