Feb. 12, 2013
/PRNewswire/ -- ValidSoft (
), 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), today announced that it has achieved its primary objective for its voice biometric technology of successfully being measured and compared with the world's leading commercial voice biometric providers and non-commercial voice biometrics research groups. As a result, ValidSoft clients are assured that they have access to a fully integrated, multi-layer, multi-factor authentication and transaction verification platform that can seamlessly incorporate world-leading voice biometric technology.
ValidSoft achieved its objective by successfully taking part in the prestigious National Institute of Standards and Technology (NIST) Speaker Recognition Evaluation. This evaluation is the most important and main driver for innovation in the field of voice biometrics, particularly security (
NIST, a non-regulatory federal agency within the US Department for Commerce, holds a voice biometric challenge every two years to advance speaker recognition core technology and to encourage innovation amongst industry leaders, research institutes and academics. In the latest challenge, participants had three weeks to process a vast quantity of audio data and send back identification results achieved by their voice biometric engine. ValidSoft is believed to be the only security software vendor with an indigenous multi-factor authentication platform to take part in the most recent NIST challenge.
ValidSoft applied its commercially available biometric Speaker Verification Platform, VALid-SVP, used for fraud prevention, to suit the particular challenge. ValidSoft's successful participation in these trials highlights its ability to provide what is now recognized as an industry-leading security tool that can pass the highest and most stringent research tests and challenges.
Pat Carroll, CEO of ValidSoft commented:
"We are delighted with our achievement at the NIST Speaker Recognition challenge. We firmly believe that voice biometrics will play an integral part in payment fraud prevention as more of us use our mobile phones to make money transactions. Using a voice print to authenticate a customer and verify transactions provides a natural and efficient security layer. It is not just for mobile-based payments either, as we see evidence of increased fraud over telecommunication channels such as traditional phone banking."
Banks, looking to strengthen security procedures, are increasingly interested in voice biometrics. IT analysts from Javelin and Gartner are beginning to recommend a combination of authentication methods that includes voice biometrics. They expect at least one large financial institution to implement voice biometric caller authentication this year.