Footprint, a company specializing in identity verification, has joined the American Fintech Council (AFC), an industry association representing fintech companies and innovative banks. The announcement was made on October 8, 2024. Footprint offers a platform that assists financial institutions in securely onboarding users while preventing fraud and ensuring compliance.
Phil Goldfeder, Chief Executive Officer of AFC, expressed enthusiasm about the new partnership: “Footprint’s cutting-edge approach to identity verification is helping financial institutions enhance security while providing the seamless experiences their customers want. We are thrilled to have them join our community of responsible innovators creating positive change through new, better ways of supporting customers across industries. We look forward to working together to drive the future of secure, efficient financial services.”
Footprint uses advanced cryptography and biometrics for real-time customer verification. It is among a select group utilizing Nitro Enclaves for security purposes and reports that over three-quarters of its users have registered passkey biometrics. The company's technology allows for dynamic user challenges based on behavioral analysis and machine learning models.
Eli Wachs, co-founder and CEO of Footprint, stated: “Joining the American Fintech Council aligns perfectly with our mission to put people in control of their data and unlock the internet’s potential through greater privacy and speed. Fraud and identity theft should not be everyday worries for consumers or companies. We believe technology can fundamentally change that dynamic and help create a more trusting, secure financial system. We are excited to join AFC and collaborate with other responsible companies working to make that future a reality.”
The AFC promotes a transparent, inclusive financial system by supporting innovation in financial services and advocating sound public policy. Its members work towards enhancing competition in consumer finance while serving underserved segments.
Footprint integrates KYC/KYB processes with security measures to streamline consumer onboarding and reduce identity fraud risks. It employs App Clips and Passkeys technology to bind biometric data to identities, aiming to minimize duplicate identity theft during account creation.
For more information about Footprint's offerings, visit their website at http://www.onefootprint.com.