ValidSoft and Utiba Partner
ValidSoft, a global supplier of advanced telecommunications-based fraud prevention, authentication, and transaction verification solutions and part of Elephant Talk Communications, has entered into a partnership with Utiba, a provider of mobile payments and financial services solutions.
Following the successful completion of technical trials, ValidSoft's special purpose security architecture for mobile payments, SMART (Secure Mobile Architecture for Real-time Transactions), derived from its VALid-4F platform, will be integrated into Utiba's suite of mobile financial services. This partnership stands to impact more than 500 million subscribers that have access to the Utiba platform, including those involved in Utiba's recently announced partnership with MasterCard.
ValidSoft's proprietary technologies include out-of-band authentication and transaction verification, proximity correlation logic, pseudo device theft detection, and biometric voice verification, allowing organizations to protect all of their customer transaction channels within a single platform.
"We're particularly excited about this partnership with Utiba because of the scale at which Utiba operates," said Pat Carroll, CEO of ValidSoft, in a statement. "Utiba processes twelve billion mobile commerce transactions annually, and has processed over three billion so far this year….This is the latest proof of the way in which ValidSoft's solutions can be easily and quickly integrated into the offerings of major financial technology providers….We have custom built our SMART architecture to be specifically designed for optimum use in the mobile payments world."
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