SCHIPHOL, THE NETHERLANDS and LONDON — (Marketwire) — 10/18/11 — Elephant Talk Communications Corp. (OTCBB: ETAK) () and its wholly-owned subsidiary, ValidSoft Limited, () announced that ValidSoft Chairman Phil Hickman has been interviewed by Financial Sector Technology (FStech), one of the leading business titles for IT decision makers in the UK and European financial services sector. Mr. Hickman also serves as a Director on the Board of Elephant Talk Communications.
The TV interview, by Mark Evans of FStech, focuses on security threats, trends and solutions that apply across the financial industry. It is available at .
ValidSoft is a global supplier of fraud prevention, authentication and transaction verification solutions across banking channels. Elephant Talk 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.
In the interview, Hickman noted that the actual cost of fraud is in the billions of British pounds in terms of financial losses to banks. Additional costs are incurred in terms of poor customer experience and low customer trust, he added. Innovation and technology from companies such as ValidSoft, Hickman said, offer security solutions that would support current and new banking and payment systems in mobile and online platforms. In addition to ensuring security, privacy remained a crucial issue for banks and consumers, Hickman noted.
Hickman pointed out that ValidSoft has been accredited with the European Privacy Seal for safeguarding consumer privacy. ValidSoft technology allows anonymous correlation of “where you are/are not” with the location of the card. Verification is out-of-band via the mobile phone, and anonymously, without tracking the consumer.
Hickman noted that customers are driving the demand for convenience and mobility, requiring banks to adopt more sophisticated solutions. It was essential to look at security from the standpoint of the consumer and for banks to respond to consumer needs by providing solutions that were intuitive, simple to use, and convenient, Hickman said.
He noted that fraudsters were persistent and creative, using methods that range from online account hacking to forwarding and porting phone numbers to fraudsters- mobile phones. ValidSoft solutions inherently counter such fraud vectors.
Regulatory bodies in the UK, European Union (EU), and globally should be more open in discussing problems and potential solutions with banks and financial services providers due to the widespread nature of fraudulent activity and the dangers it presents, Hickman concluded.
Elephant Talk Communications Corp. (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 ().
ValidSoft is a subsidiary of Elephant Talk Communications Corp. (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. For more information, please visit ().
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Elephant Talk Communications Corp.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Investor Relations:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: +1 212-398-3486
ValidSoft:
Emmanuelle Filsjean
Tel: +44 (0)20 3170 8999
Email:
For UK and EU:
Fishburn Hedges
+44 (0)20 7839 4321
Paul Farrow
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