LONDON, Feb. 24, 2015 /PRNewswire/ -- ValidSoft UK Limited ("ValidSoft") (www.validsoft.com), a global supplier of transaction authentication solutions utilized by financial services, governments and enterprise sectors, and a subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK), today announced that it has launched its Device Trust solution with another major UK retail bank with its partner FICO (NYSE:FICO). This is the second such agreement announced for this solution and continues building on the successful partnership with FICO. The new client, unnamed for security reasons, is the largest UK deployment of this solution to date for ValidSoft.
Paul Burmester, CEO of ValidSoft stated, "After a successful period of further development and commercialization during 2014, we have experienced an exciting start to 2015 as we announce the launch of a second major bank to utilize our Device Trust solution in the UK. This is testament to our successful and growing partnership with FICO, providing leading financial institutions with superior protection from fraud."
The increasingly growing global threat created by fraudsters maliciously redirecting mobile telephone calls and text messages in order to defeat Out-Of-Band authentication systems and other anti-fraud measures involving customer contact via the mobile phone has caused significant losses for the banks affected. ValidSoft's Device Trust solution solves this by enabling financial services providers to protect their customers' data and their transactions by securing their communication channels from account takeover, SIM swap, call divert and international roaming related fraud.
About ValidSoft UK Limited: ValidSoft, a subsidiary of Elephant Talk Communications Corp., secures transactions using personal authentication and device assurance. We enable our customers to enhance their security while improving their user experience, utilising our multi-factor authentication platform, Voice Biometric engine and Device Trust technology, all of which may be used as 'stand-alone' or integrated into multi-vendor solutions. ValidSoft serves multiple clients across the financial services, government and enterprise sectors and is the only company to have been granted four European Privacy Seals, reflecting its commitment to strong data privacy. Visit: www.validsoft.com.
About Elephant Talk Communications Corp.: Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a global provider of mobile proprietary Software Defined Network Architecture (ET Software DNA® 2.0) platforms for the telecommunications industry. The Company empowers Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, superior industry expertise and high quality customer service without the need for substantial upfront investment. Elephant Talk counts several of the world's leading MNOs and technology companies amongst its customers and partners, including Vodafone, T-Mobile, Zain, Iusacell and HP. Visit: www.elephanttalk.com.
About FICO FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com. For FICO news and media resources, visit www.fico.com/news.
FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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