LONDON, March 11, 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), is positioning itself for expansion in the US market. To support this drive, on the 12 th and 13 th of March ValidSoft will participate in the BAI Payment Connect conference in Phoenix, AZ.
On Tuesday the 12 th of March, ValidSoft's global head of business development, John Petersen, will demonstrate ValidSoft's SMART platform as an example of how the technology can combat micro-merchant fraud, to an audience of technology decision makers, during the Payments Innovation Track. On the next day, March 13, ValidSoft will be the sole sponsor of the F raud Executive Session. This session will be hosted by Kim Duncan, First Vice President Enterprise Fraud Management at SunTrust Bank and will be attended by senior bank executives with direct responsibility in fraud prevention.
John Petersen, ValidSoft's global head of business development, says: "Across the US, people are becoming increasingly concerned that systems designed to safeguard privacy and fight fraud are in danger of falling behind the huge growth in mobile technology. Our Privacy-by-Design philosophy, which is at the core of our development methodology, clearly demonstrates that it is possible to achieve strong security without compromising the privacy of the individual. Similarly, and crucial to the mobile payments industry, it is possible to achieve strong security without compromising ease-of-use. We at ValidSoft are at the forefront of providing award-winning solutions, and are experiencing a high degree of interest in our products and services."As fraud and related security threats evolve, we believe fraud prevention teams at financial institutions must advance with them to reflect the reality of the new fraud landscape. Payment systems will never be fraud-free, but financial institutions can implement enhanced security controls and train staff to mitigate risks. One universal problem is that technology today evolves rapidly as enterprises of all kinds seek to innovate and capture the attention of consumers. Serious new threats that exploit weak points can materialize every day.