NEW YORK, NY--(Marketwire - Jun 12, 2012) - SOCURE, a New York based company that develops cutting edge applications that protect the identity and reputation of both businesses and consumers across social networks, is today pleased to announce a new partnership with ValidSoft, www.validsoft.com, a global supplier of advanced telecommunications based fraud prevention, authentication and transaction verification solutions, and subsidiary of Elephant Talk Communications, Corp. (NYSE MKT: ETAK) former (NYSE Amex: ETAK).
Following a stringent technical evaluation process, SOCURE selected ValidSoft's state-of-the-art, special purpose security architecture SMART™ (Secure Mobile Architecture for Real-Time Transactions™) to underpin its own advanced security offerings in social networks. The derivative platform, known as SMARTsocial™, is aimed specifically at social network identity authentication and verification, and ensuring the integrity of transactions resulting from the augmented reality intersection between social networks, financial services and other services where privacy and/or data integrity is paramount. SOCURE will launch its platform of scalable security solutions for the social web later this year.
Pat Carroll, CEO of ValidSoft added, "We are excited about this partnership with SOCURE and see incredible potential for ValidSoft services in social network authentication and verification applications. We believe this will become a very important aspect of social media sites based on the recent hacking of LinkedIn users which creates a massive Phishing opportunity for fraudsters. Following our recent partnerships with Adeptra, Utiba and Spindle, this is the latest market recognition of the effectiveness of our advanced SMART™ architecture, and that ValidSoft's solutions are easily and quickly integrated into the offerings of strategic financial technology providers as well as into social network platforms. Traditional security methods are inadequate and unsuitable for the world of mobile social networks. We have customized our SMARTsocial™ architecture for authenticating mobile social network transactions, and we intend to become the industry leader in securing the social networking space."
Bradley S. Leinhardt, Esq. CEO of SOCURE, commented, "As the proliferation of commerce on mobile social networks explodes with virtual currency transactions, we are determined to design and implement the most user friendly applications to safeguard against rampant identity theft, as research shows that millions of user logins and accounts are compromised every 24 hours on networks like Facebook, Twitter, Google+ and others. Thanks to this partnership with ValidSoft, SOCURE plans to develop the world's first and
most advanced mobile social network identity verification application, to be released on the iTunes and Android marketplaces, and powered by ValidSoft's proprietary technologies. We are honored to collaborate with a world class company like ValidSoft and work hard to Redefine Fraud Prevention™ together."
About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE MKT: ETAK) (NYSE Amex: ETAK), (www.elephanttalk.com) 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 (www.elephanttalk.com).
ValidSoft is a subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK) (NYSE Amex: ETAK), (www.elephanttalk.com) 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 (www.validsoft.com).
Founded in 2011, SOCURE has focused on the development of cutting edge, scalable solutions and tools that businesses and individuals need, in order to help protect their identity and enhance their reputation across the social web. SOCURE's cutting edge applications aim to protect users from identity theft, privacy and security threats, as well as from reputational exposure across social networks, and reward them for it.
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.