Episode description
Episode description
In this episode of The CTO Show with Mehmet, we welcome Eli Farhood, the founder and CEO of KatchID, a pioneering company focused on reinventing identity protection through innovative biometric solutions. Eli shares his personal journey that led him to start KatchID, driven by his experiences as a two-time victim of identity theft. He highlights the growing risks of personal information misuse and data breaches in the digital world, explaining why protecting personal information is not just critical for high-profile individuals but for everyone, regardless of their financial status.
Throughout the conversation, Eli delves into the mechanisms of identity theft and the evolving tactics used by threat actors. He illustrates the consequences of compromised personal information, from financial fraud to medical identity theft and even legal troubles. Mehmet and Eli discuss the motivations behind KatchID’s creation, which aims to eliminate the need for passwords and two-factor authentication by utilizing a unique hand-scan biometric technology. Unlike other biometric solutions, KatchID’s technology is device-agnostic and doesn’t require special hardware, making it a versatile option for various applications, including payments, access control, and identity verification.
Eli also shares his vision for a password-free future, where users can authorize access with a simple hand scan on any device, ensuring both convenience and security. He discusses the role of AI in the cybersecurity landscape, emphasizing its dual nature as both a tool for innovation and a potential weapon for attackers. The conversation also touches on KatchID’s use of AI for enhanced detection and security, alongside the company’s journey in gaining market traction and validation, including recognition from Visa and FDIC.
Wrapping up, Eli talks about the challenges and rewards of being a startup founder, especially in the cybersecurity sector, and shares insights into KatchID’s ongoing crowdfunding campaign. For more information, listeners can visit KatchID’s website and consider supporting the campaign to be part of this groundbreaking journey.
More about Eli:
Eli Farhood is the founder and CEO of Katsh Digital ID, a pioneering company committed to safeguarding consumers and businesses from financial fraud through a simple hand-wave on any smart device. This innovative approach offers a seamless, private, and touch-free solution for identity verification, ensuring military-grade security to confirm identities for a variety of applications. Eli's personal experience as a victim of identity theft underscores the importance of Katsh's mission.
Eli's career in finance began at an early age, where he quickly established himself as a skilled trader and analyst, accumulating over 20 years of experience in the financial markets. His expertise spans commodities, stocks, and the Foreign Exchange markets, leading him to become a portfolio manager at a Forex fund. Eli is also a FINRA-licensed professional.
Throughout his career, Eli gained deep insights into cybercrime, particularly phishing tactics for personal information and the challenges of identity theft. He has participated in multiple Anti-Money Laundering (AML) workshops at the Dubai International Financial Centre (DIFC), where he trained in regulatory procedures for securing clients' personal information, financial accounts, and ensuring legal compliance.
https://www.linkedin.com/in/efarhood/
00:00 Introduction and Guest Welcome
01:01 Eli Farhood's Background and Journey
03:11 The Problem of Personal Information Security
05:18 Understanding Cybersecurity Threats
10:45 The Importance of Protecting Personal Information
19:14 Introducing KatchID: A Solution to Identity Theft
22:02 How KatchID Works and Its Advantages
29:23 The Role of AI in Cybersecurity
37:24 Startup Journey and Fundraising
41:57 Conclusion and Final Thoughts