ValidSoft and Adeptra Form Partnership to Extend Global Fraud Detection and Customer Communications
LONDON and NORWALK, CT--(Marketwire - Sep 21, 2011) - Adeptra, the leader in auto-resolution technologies that span the consumer lifecycle and ValidSoft, a global supplier of fraud prevention, authentication and transaction verification solutions across banking channels, have forged a commercial and technology partnership that will help retail banks to detect and prevent fraud worldwide.
The partnership provides financial organizations with best-in-class fraud detection and prevention functionality, as well as total control over their customer communications. It does this by combining the functionality of ValidSoft's fraud detection with Adeptra's product suite. ValidSoft delivers real-time proximity-based solutions, products to identify compromised SIM cards and mobile-based fraud detection capabilities. Adeptra's suite, including Decision Engine, combines and analyzes disparate consumer-related data sets to determine whether the consumer needs to be contacted, and in what way.
Avivah Litan, vice president and distinguished analyst for Gartner, said: "The financial services industry is faced with new fraud and hacking tactics that evolve as banking products and services evolve. Fraud prevention increasingly needs to adapt and adopt tactics that are able to prevent new types of attacks, especially by exploiting mobile devices and communications."
The relationship extends Adeptra's fraud detection footprint and enables the company to offer new fraud detection capabilities to its extensive user base, which includes many of the world's leading retail banks. These new capabilities include ATM location-based services, smartphone proximity services and ways to detect and prevent SIM swapping. In SIM swapping, the fraudster impersonates the chosen victim (so-called spear phishing) and contacts the victim's mobile network operator (MNO) to convince the MNO to port the victim's mobile phone number to a SIM owned by the fraudster.
Lou Venezia, CEO of Adeptra, said: "We are committed to maintaining our technical and market leadership through product and partner innovation. Our relationship with ValidSoft is a combination of both. The combination of ValidSoft's impressive fraud detection technology with the rich and powerful functionality of the Adeptra Decision Engine means we offer the most complete fraud management and customer communication solutions on the market."
Pat Carroll, founder and chief executive of ValidSoft, a subsidiary of Elephant Talk Communications (
Adeptra is the global market leader in Auto-resolutionT: technology that automates key call center interactions to reduce their cost and dramatically increase performance. Applications are fully integrated, industry-specific solutions for business processes such as fraud detection, payment reminders and opt-in marketing.
Distinct from less sophisticated auto-dialer systems, Adeptra combines recorded dialog with state of the art natural language to reach out to individual customers and personally engage with them about important, time-sensitive issues. Adeptra is able to make thousands of customer contacts simultaneously and achieves higher levels of portfolio penetration and produces significantly better results than human agents alone. The resolutions it secures are delivered into clients' computer systems for reporting and analysis.
Among its many customers, Adeptra is used by the majority of leading retail banks across EMEA, North America and APAC. It occupies a premium position in the market by continually reinvesting in its technology, operations and service structure. The company's commitment to the highest standards of data security compliance was recently re-confirmed, as Adeptra became the first Interactive Voice Messaging organization to meet both Payment Card Industry Security Standard (PCI DSS) v1.2 and ISO27001 standards on a global basis. For more information, visit www.adeptra.com.
ValidSoft is a subsidiary of Elephant Talk Communications, Inc. (
About Elephant Talk Communications
Elephant Talk Communications, Inc. (
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