LONDON and OKLAHOMA CITY, Nov. 14, 2013 /PRNewswire/ -- ValidSoft (www.validsoft.com), a global supplier of advanced telecommunications-based fraud prevention, authentication and transaction verification solutions, and a wholly owned subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK), has recently been granted a UK patent (GB2494920) for its Dual-Wireless Network (Dual SSID) Authentication System.
The Dual-SSID (Service Set Identifier) Authentication System authenticates a user or mobile device accessing a visible wireless network, which in turn issues credentials for access to a second, highly secure, invisible wireless network. The invention is wide in scope and is suited to the growing usage of mobile devices like tablets in wireless environments where mobility, security and privacy are essential. The technology has immediate application in a number of fields, e.g. finance and specifically in healthcare where HIPPA (The Health Insurance Portability and Accountability Act) regulations require secure access to all electronic patient records. The company is in the process of pursuing parallel patent applications for this technology in the US and other jurisdictions.
Pat Carroll, Chairman of ValidSoft, and one of the patent's inventors, commented: "This patent, and our wider IP portfolio, will be significant in leveraging value for shareholders and customers alike, by delivering cutting edge security solutions that align with emerging trends in mobile computing. Our Dual-Wireless Network Authentication system patent adds to our growing list of protected IP and reflects our ongoing commitment to maintaining our leadership position in strong authentication technologies targeted at the global financial services market."
Alexander Korff, General Counsel to ValidSoft and responsible for the Elephant Talk Group IP portfolio, added: "We're delighted with the grant of this patent, which highlights our commitment to creating value through our innovation and intellectual capital. We anticipate that the invention will be highly beneficial in helping to provide secure wireless network connectivity for many vertical markets as working practices evolve from the fixed desktop to evolving trends in the enterprise such as Bring Your Own Device ."
ValidSoft provides advanced mobile and cloud security solutions. ValidSoft has developed a custom-built sophisticated multi-factor authentication platform (SMART™) for the mobile world, which takes full advantage of mobile telecommunication channels and devices and includes a leading proprietary voice biometric engine. These solutions combat electronic fraud and safeguard consumer privacy across internet and mobile banking, credit/debit-card and (mobile and fixed line) telephony channels. ValidSoft's solutions are used to verify the authenticity of both parties to a transaction (Mutual Authentication), ensure the fidelity of telecommunication channels (Secure Communications), and confirm the integrity of transactions themselves (Transaction Verification) – in each case in a manner which is scalable for the mass market, cost-effective, secure and easy to use and deploy. The company counts some of the world's largest financial institutions among its customers, e.g. FICO and Banco Santander UK. ValidSoft is the only security software company in the world that has been granted three European Privacy Seals. Visit: www.validsoft.com.
About Elephant Talk:
Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a leading international provider of mobile proprietary Software Defined Network Architecture (Software DNA™) platforms for the telecommunications industry that empower Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, Full OSS/BSS Systems, Delivery Platforms, Support and Managed Services, on-site, cloud, hybrid and S/PaaS solutions, including Network, Mobile Internet ID Solutions, Secure Remote Access Management, Loyalty Management and Transaction Processing Services, superior Industry Expertise and high quality Customer Service without substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Operators amongst its customers including Vodafone, T-Mobile, Zain and Iusacell. Virtually all business is focused on tier 1 and tier 2 operators worldwide. Visit: www.elephanttalk.com.
Elephant Talk Communications Corp.
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UK: Fishburn Hedges
+44 (0)20 7839 4321
US: Michael Glickman
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