This week, I sat down with Eli Wachs, the Co-Founder and CEO of Footprint, a company building the identity infrastructure of the internet.

It was a far-reaching conversation – Eli's an interesting guy – and we touched on everything from his deep-dives into identity in the Stanford library to working with economist Raj Chetty to philosophy and what it means to be authentic to yourself.

Footprint provides automated onboarding that solves identity, security, fraud, and auth in 5 lines of code, building the identity layer to the internet.

The company offers end-to-end onboarding solutions, including verification, storage, and re-authentication, aiming to create a centralized database of good actors. They emphasize reducing false negatives and improving conversion and compliance. Eli talked with me a bit about Footprint's unique approach using device fingerprinting and vaulting to enhance security and portability.

We covered some recent product launches, including bank-linking and their new decision engine. Eli also discussed the company's evolution from a KYC point solution to a broader identity network built around preventing identity theft and fraud in any online situation, from buying a house to joining a community.

You can find Footprint online at onefootprint.com.

Enjoy the chat!

🎧 The Philosophy of Identity, a conversation with Footprint Co-Founder Eli Wachs

This Week in Fintech’s Podcast · Episode

Spotify

🎧 The Philosophy of Identity, a conversation with Footprint Co-Founder Eli Wachs

Podcast Episode · This Week in Fintech’s Podcast · 08/12/2025 · 52m

Apple Podcasts

Introduction and Background of Eli Wachs

• Nik introduces Eli Wachs, co-founder and CEO of Footprint, and mentions their first meeting at a FinTech event in New York.
• Eli shares his background, including growing up in Philadelphia, starting companies in high school and college, and his interest in privacy and data.
• Eli discusses his journey from flu tracking to founding Footprint, emphasizing the importance of academic problem-solving.
• Nik highlights the unique approach Eli brings to problem-solving in the FinTech space.

Footprint's Mission and Product Offerings

• Eli explains that Footprint is building the identity infrastructure for the Internet, focusing on end-to-end onboarding and embedded onboarding.
• Footprint provides a suite of solutions for user onboarding, including verification, storage, re-authentication, and linking bank accounts.
• Eli emphasizes the company's vision of creating a centralized database of good actors to change the math equation of fraud.
• Nik and Eli discuss the evolution of the online financial services ecosystem post-COVID and the increasing importance of digital payments and KYC tools.

Footprint's Unique Approach to Fraud and Identity

• Eli explains Footprint's unique approach to fraud detection, focusing on eliminating false negatives rather than just reducing false positives.
• Footprint uses device fingerprinting and binding to create a centralized database of good actors, which helps in verifying identities.
• Eli highlights the importance of building a dynamic, embeddable identity layer that can be used across various online interactions.
• Nik and Eli discuss the broader vision of Footprint in creating a secure and portable identity network.

Customer Use Cases and Product Launches

• Eli shares insights into how different types of customers use Footprint's products, including lending, document scanning, and car rental.
• Footprint's recent product launches include bank linking and a decision engine, aimed at improving conversion and compliance.
• Eli explains the importance of providing value to customers and how Footprint's solutions help in boosting conversion and reducing fraud.
• Nik and Eli discuss the challenges of integrating various vendors and the benefits of Footprint's pre-integrated solutions.

Footprint's Identity Network and Long-Term Vision

• Eli elaborates on Footprint's long-term vision of building a dynamic, embeddable identity layer that can be used across various industries.
• Footprint aims to provide a secure and portable identity network that can help in preventing identity theft and fraud.
• Eli discusses the importance of building a solution that meets the specific needs of different customers and industries.
• Nik and Eli talk about the potential of Footprint's solutions in creating a more secure and efficient online identity ecosystem.

Footprint's Academic Approach and Founder Background

• Nik highlights the academic approach Eli and his co-founder, Alex, bring to founding Footprint.
• Eli shares his background in data privacy and the influence of his advisors, including Raj Chetty and his master's advisor at MIT.
• Footprint's approach to building a secure and portable identity network is rooted in academic research and practical experience.
• Nik and Eli discuss the importance of balancing security, privacy, and user experience in Footprint's solutions.

Footprint's Business Model and Market Positioning

• Eli explains Footprint's business model, which involves providing a dual view for regulators and risk managers while simplifying the onboarding process for customers.
• Footprint's solutions help in reducing fraud and friction, boosting conversion, and ensuring compliance.
• Eli discusses the challenges of building a scalable identity network and the importance of integrating various vendors.
• Nik and Eli talk about the potential of Footprint's solutions in creating a more secure and efficient online identity ecosystem.

Footprint's Investor Updates and Philosophical Insights

• Nik praises Eli's investor updates for their openness and philosophical insights, which provide a unique perspective on company building.
• Eli explains the motivation behind writing the investor updates, which aim to foster intellectual curiosity and empathy.
• Eli shares his thoughts on the importance of being genuine and honest in company building and leadership.
• Nik and Eli discuss the impact of Footprint's investor updates on the company's culture and relationships with investors and employees.

Footprint's Future Plans and Growth Strategy

• Eli outlines Footprint's future plans, including expanding the identity network and integrating new vendors.
• Footprint aims to provide a comprehensive solution for identity verification and onboarding, covering various industries and use cases.
• Eli discusses the importance of continuous innovation and staying ahead of the evolving fraud landscape.
• Nik and Eli talk about the potential of Footprint's solutions in creating a more secure and efficient online identity ecosystem.

Conclusion and Final Thoughts

• Nik and Eli wrap up the conversation, highlighting the key points discussed in the podcast.
• Eli reiterates Footprint's mission to build a secure and portable identity network that can be used across various industries.
• Nik expresses his appreciation for Eli's insights and the unique approach Footprint brings to the identity and FinTech space.
• The podcast ends with a positive note on the future of Footprint and the potential impact of its solutions on the online identity ecosystem.