An Introduction to ValidSoft by Pat Carroll, Executive Chairman (video)
ValidSoft is the world’s leading provider of telecommunications-based multi-factor mutual authentication, identity and transaction verification solutions for all electronic transaction channels. ValidSoft solutions are specifically designed for financial services and government organisations. As the banking and payments world, in particular, begins to converge onto smart telecommunications-based devices, the ValidSoft integrated security platform, built solely on a real-time zero client-footprint model, allows organisations to leverage these convergence devices to provide visible and invisible security layers for all transaction channels, whilst also providing protection where the device itself is the channel.
A fully integrated platform to secure transactions
This integrated platform, using proprietary technologies including Out-of-Band authentication and transaction verification, Proximity Correlation Logic, Pseudo Device Theft detection and biometric voice verification, allows organisations to protect all of their customer transaction channels within a single platform. This combination of technologies provides solutions from simply detecting SIM Swap fraud through to the world’s first commercially available indigenous Four-factor authentication solution. Card Present transactions, Card Not Present, E-Commerce, Internet/Telephone Banking, Mobile Financial Services (m-banking, m-wallet, m-payments, m-commerce), Enterprise security, citizen online services and more are all supported through either one or more of these integrated telecommunications-based techniques.
Privacy by Design - ValidSoft's European Privacy Seals
The ValidSoft platform is built on privacy, an underlying principle in all our solutions. ValidSoft is the only company in the world to be awarded 3 prestigious European Privacy Seal: EuroPriSe. The Seals were awarded in March 2010 for the VALid-POS® card-present fraud detection solution, a second in September 2011 for VALid-4FTM, the four-factor authentication and transaction verification solution that incorporates both biometric voice verification and Proximity Correlation Logic; knowing where someone is or isn’t; and a third one in October 2012 for VALid-SSD® (version 3.5). In March 2011, ValidSoft was also awarded a registered data controller status with the UK Information Commissioner’s Office.
ValidSoft was acquired by Elephant Talk Communications Corp. (NYSE MKT:ETAK) in March 2010. Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a global provider of mobile proprietary Software Defined Network Architecture (Software DNA® 2.0) platforms for the telecommunications industry. The company empowers Mobile Network Operators (MNOs), Virtual Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, superior industry expertise and high quality customer service without 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.
Elephant Talk can service the needs of ValidSoft’s requirements to deliver its leading solutions whilst also providing a “carrier-grade” telecommunications platform to enable ValidSoft to process transactions in real-time. Synergies between a telecommunications security solutions provider and an innovative telecommunications company may seem obvious, our growing Intellectual Property capability bears testament to this. As the convergence towards the smart phone crystallizes, the need for the security is paramount, and telecommunications is at the core of the capability. Together, ValidSoft and Elephant Talk innovate, leveraging each other’s core capabilities and strengths, to be the global leaders in managing and securing the mobile cloud.