Footprint vs. the Rest
First let us say that we have a lot of respect for the companies that came before us, for ushering in a better age of fintech + data security. They are certainly much better than the options companies had a decade ago. However, we wouldn’t be here if we didn’t see a massive opportunity for improvement. We are selling results, not a black-box solution wrapped in unexplainable AI.
Footprint is built to solve two problems, KYC + PII Vaulting, in an easy-to-use solution that does not make you choose between friction and accuracy. It seemed silly to us that both of these functions were previously performed statically, often upon account creation at a moment in time. Not only does this make companies (and users) waste time and money going through the same process, but it lowers accuracy by not leaning on shared knowledge. Footprint enables companies to create a shared knowledge database of bad actors. Companies can prevent losses if they know that an actor has been marked as fraudulent by another institution. Conversely, given that every company is storing essentially the same six attributes for KYC, it seems extremely unnecessary for each company to build out its own vault to store this universal information.
With Footprint, in five lines of code, you get KYC and PII Vaulting taken care of in one solution that will be up and running in a day. However, we are not simply better because we do both. We believe we have a better KYC experience than companies such as Persona and Alloy, and a better PII Vaulting service than competitors like VGS.