Both Farrell and Serkis have played Marvel villains in the past: the former went up against Ben Affleck as sharpshooting assassin Bullseye in 2003's "Daredevil", while the latter took on Chadwick Boseman as arms dealer Ulysses Klaue in 2018's "Black Panther".
The role of the Penguin was most famously played by Danny DeVito in Tim Burton's 1992 sequel Batman Returns. Alfred Pennyworth meanwhile has been played through the years by Michael Gough, Michael Caine and Jeremy Irons.
Jonah Hill had reportedly been in talks to play either Riddler or Penguin, but the deal fell through.
Reeves said there will be a "rogues gallery" during an interview with The Hollywood Reporter earlier this year, while spilling more details about the highly-anticipated superhero flick.
"It's very much a point-of-view-driven, noir Batman tale," Reeves said at the time. "It's told very squarely on his shoulders, and I hope it's going to be a story that will be thrilling but also emotional. It's more Batman in his detective mode than we've seen in the films."