LONDON and NORWALK, CT — (Marketwire) — 09/21/11 — , the leader in auto-resolution technologies that span the consumer lifecycle and , a global supplier of fraud prevention, authentication and transaction verification solutions across banking channels, have forged a commercial and technology partnership that will help retail banks to detect and prevent fraud worldwide.
The partnership provides financial organizations with best-in-class fraud detection and prevention functionality, as well as total control over their customer communications. It does this by combining the functionality of ValidSoft-s fraud detection with Adeptra-s product suite. ValidSoft delivers real-time proximity-based solutions, products to identify compromised SIM cards and mobile-based fraud detection capabilities. Adeptra-s suite, including Decision Engine, combines and analyzes disparate consumer-related data sets to determine whether the consumer needs to be contacted, and in what way.
Avivah Litan, vice president and distinguished analyst for Gartner, said: “The financial services industry is faced with new fraud and hacking tactics that evolve as banking products and services evolve. Fraud prevention increasingly needs to adapt and adopt tactics that are able to prevent new types of attacks, especially by exploiting mobile devices and communications.”
The relationship extends Adeptra-s fraud detection footprint and enables the company to offer new fraud detection capabilities to its extensive user base, which includes many of the world-s leading retail banks. These new capabilities include ATM location-based services, smartphone proximity services and ways to detect and prevent SIM swapping. In SIM swapping, the fraudster impersonates the chosen victim (so-called spear phishing) and contacts the victim-s mobile network operator (MNO) to convince the MNO to port the victim-s mobile phone number to a SIM owned by the fraudster.
Lou Venezia, CEO of Adeptra, said: “We are committed to maintaining our technical and market leadership through product and partner innovation. Our relationship with ValidSoft is a combination of both. The combination of ValidSoft-s impressive fraud detection technology with the rich and powerful functionality of the Adeptra Decision Engine means we offer the most complete fraud management and customer communication solutions on the market.”
Pat Carroll, founder and chief executive of ValidSoft, a subsidiary of Elephant Talk Communications (OTCBB: ETAK), added: “Fraud detection and prevention are huge challenges for the banking industry. Fraud continues to evolve and adapt in the same way businesses do. We are delighted that Adeptra has recognized ValidSoft-s unique capabilities in combating new threats.”
Adeptra is the global market leader in Auto-resolution: technology that automates key call center interactions to reduce their cost and dramatically increase performance. Applications are fully integrated, industry-specific solutions for business processes such as fraud detection, payment reminders and opt-in marketing.
Distinct from less sophisticated auto-dialer systems, Adeptra combines recorded dialog with state of the art natural language to reach out to individual customers and personally engage with them about important, time-sensitive issues. Adeptra is able to make thousands of customer contacts simultaneously and achieves higher levels of portfolio penetration and produces significantly better results than human agents alone. The resolutions it secures are delivered into clients- computer systems for reporting and analysis.
Among its many customers, Adeptra is used by the majority of leading retail banks across EMEA, North America and APAC. It occupies a premium position in the market by continually reinvesting in its technology, operations and service structure. The company-s commitment to the highest standards of data security compliance was recently re-confirmed, as Adeptra became the first Interactive Voice Messaging organization to meet both Payment Card Industry Security Standard (PCI DSS) v1.2 and ISO27001 standards on a global basis. For more information, visit .
ValidSoft is a subsidiary of Elephant Talk Communications, Inc. (OTCBB: ETAK), () and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft-s solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive.
Elephant Talk Communications, Inc. (OTCBB: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit ().
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company-s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company-s industry, management-s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company-s filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.
Contact:
For Adeptra contact:
Debbie Nesdale
Marketing Manager, Adeptra
203-956-2600
Hazel Butters or Rob Ramos
Prompt Communications on behalf of Adeptra
617-401-2717 / 617-842-0107 (out of hours)
ValidSoft:
Emmanuelle Filsjean
Tel: +44 (0)20 3170 8999
Email:
For UK and EU:
Fishburn Hedges +44 (0)20 7839 4321
Paul Farrow
For Elephant Talk contact:
Elephant Talk Communications, Inc.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Investor Relations:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: + 1 212-398-3486
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