We have one spot left for our amazing
@wander
offsite next week. If you’re an amazing infrastructure/design engineer who wants a nice get away next week, our dms are open 🤗
Nice quote from a demo call today: “our compliance team is going to love this”. Our goal is to offload the security, compliance, and cost of storing PII so you can focus on your core business!
Very excited to come out of stealth and share our mission! We will be doing KYC on DAOs looking for shipwrecks of 16th century Spanish galleons⛵️. Here’s our story and why we’re doing it 🧵 👇
Customer quote of the day: "what I appreciate on your solution is the PII storage and not having to deal with that via *** and other PCI compliant storage solutions"
Introducing the Footprint legal library. We built this to help break down the current (and evolving) regulatory landscape surrounding financial services, fintechs, and data security:
Thanks to
@Redpoint
and
@mkhandel
for including us on their market map for infra tools in identity, fraud, and risk! Here to change KYC and PII storage one day at a time :)
Watching our demo for the first time 👀: beyond proud of our team and couldn’t be more excited to share with the world soon 🤓. Second mover advantage is a very real thing 🐧
@shardul_shah
loves us so much he's moving to be closer to our HQ 😉. This is amazing news for
@IndexVentures
and New York. Shardul will help the best companies on the east coast reach new heights!
We are thrilled to share that we’re opening an office in New York City 🗽 Joining existing offices in London & SF, we will now have a major presence in the top 3 global startup ecosystems.
More from
@martinmignot
&
@shardul_shah
on why we ❤️ NY:
The path to eliminating fraud is taking away possible vectors by which fraud is possible. Footprint is proudly the first and only KYC company to incorporate Passkeys and App Clips into our flow to make this a reality.
Shane is one of the most compelling and talented founders I've met. He's been working on this problem for a decade, since he was 12, and he's prepared to give it another full decade for the full plan to come together.
Read the full story at Not Boring:
@mikekarnj
@ankurnagpal
@usealloy
Completely agreed! We combine KYC + PII Vaulting. Onboard customers, offload the risk. All in 5-lines of code and with best-in-class pricing.
Why use two tools when you could use one? We have companies today using Footprint to do both KYC and PII vaulting. Reply here with a time and zoom link and we’ll get you running on both in 30 minutes.
We need to make it frictionless for good actors to create accounts. Companies lose far more revenue on good actors not being let in than fraud because toggles balance security and speed. Footprint does both 👣🤓
Just tried to sign up for a
@Chime
account and was denied. Of course, "security rules" (prob. Bank Secrecy Act) prevent them from telling me why. Rather ironic for someone who's been in fintech as long as I have. ¯\_(ツ)_/¯
Traditional credit scores don't work, and is rooted in systems that perpetuate inequality. This is a great step to improve it, and I hope by making more income and identity data portable over time we can fix broken credit even more:
This is the Focke-Wulf Fw 61, a helicopter invented in 1936 that didn't survive WWII.
SSNs were created in 1936 and we still use them to create online accounts. We retire physical things, it's time to do the same digitally.
"Footprint is building a single solution for both groups, while also trying to bring the end customer in as a stakeholder (enter your PII into Footprint once and then use it wherever Footprint is available). TechCrunch is right, that is ambitious."
Super Bowl by the numbers:
- nearly half a million people signed up for a new fintech app on
@Plaid
yesterday 🚀
- 3,000 API requests / sec
- 99.99 uptime 📈
Running a reliable platform on a large scale doesn’t just happen without a tremendous amount of work behind the scenes.
Product leaders choose Footprint because of our dedication to incredible UX experiences that help you boost conversion. With built-in Security + Fraud Checks. And that all matches your branding!
3 people I spoke to confirmed the police reports leaked this week, as a sample of a massive Chinese police database being sold online. Only one was aware of the data breach, but he did not realize it included his report of a stolen vehicle in 2010.
We want to remove toggles that were thought of as immutable on the internet. For too long, there has been a trade-off between a desire to create an account and the need to fork over personal data. We're here to solve it.
By letting users securely onboard while remaining in control of their data,
@Footprint_HQ
lets companies convert more people at sign-up, and allow for people to participate in more of a powerful digital ecosystem.
@AlexGrinman
@rbranson
@hytradboi
@sc13ts
If you can't do the above because of PII in your db, then maybe try something like
@OneFootprintID
to move the PII out of your main database and into somewhere safer?
It's 2022, with good tools one can handle having more than one database. And you should use the best tools!
Thanks to
@profgalloway
for highlighting how
@Footprint_HQ
can help bring back trust to the internet through KYC that lets good actors use the internet with less friction, and keeps bad actors and bots out:
“Footprint, for example, is a security company that stores important user data and then verifies the information before the user is onboarded to other platforms.”—thanks for the mention
@profgalloway
—we want to bring back trust to the internet here
Wanted to thank
@ShaleneGupta
for spending the time with me and writing this incredible feature about our work Footprint. We have perhaps a paradoxical view on privacy: that it means control and not deletion of your data.
Announcing our $13M Series A led by
@QEDInvestors
. Business deserve better onboarding tools to drive revenue and block fraud, while people deserve an internet they can trust.
Read the exclusive story from
@BusinessInsider
:
The current system clearly doesn't work if this is the result. If you only look for fraud, you'll find more fraud modules to sell. We instead need to unify the identity layer of the digital realm with the ecosystem of good actors to transact with interoperability.
We crunched the numbers, and the TAM for reusable identities is est. at $32.8B in 2022, to reach $266.5B by 2027, with a CAGR of 68.9%. Today, the market is still nascent but is posed for strong growth. Download the latest research:
#digitalidentity
We thought it was important to create this to explain to our customers (and the broader public) why our tools are needed. We designed Footprint with regulation in mind, and met with FinCEN in the early days of building.
Seeing the news today about Fast. There is so much luck involved in building a company, and I know the news isn't a reflection of their awesome employees. We are building one-click KYC + PII vaulting--if you want to continue the mission in an adjacent field, would love to talk.
Our goal is to minimize (and to the degree possible, fully offload) compliance burdens from companies in the space. We will continually upload the library, and hope it can serve as a living guide to the space at large.
Today's Startup of the Day is
@Footprint_HQ
, helmed by
@EliWachs
.
Eli saw the current system as inefficient. There were disparate KYCs each time a service created an account or individual company vaulting. This made it difficult to solve real issues of fraud.
Footprint is an
We're doing something shockingly radical
@Footprint_HQ
: publishing our pricing. To us, bringing back trust means being transparent to all stakeholders. This is how we can do cheaper KYC and onboard more users through more aligned pricing 👇🧵
When you create a
@Footprint_HQ
dashboard account, we now guide you on how to create an onboarding configuration. Our goal is for you to be able to do this + vault your first identity in <60 seconds. Then just 5 lines of code on your site and it can be live :)