ValidSoft CEO to Present Security Solutions at FinovateEurope 2012

LONDON--(Marketwire - Feb 7, 2012) - Patrick Carroll, CEO of ValidSoft (www.validsoft.com), will present ValidSoft's transaction security solutions on Feb. 7 at FinovateEurope 2012 in London. Finovate (www.finovate.com/europe2012) focuses exclusively on innovative ideas in financial technology. The expected 450 attendees include bankers, investors, systems integrators, technology vendors, industry analysts and media representatives. Mr. Carroll was selected as a speaker following Finovate's competitive screening process. ValidSoft is a wholly-owned subsidiary of Elephant Talk Communications, Corp. (NYSE Amex: ETAK)(www.elephanttalk.com), an international provider of business software to the telecommunications and the financial services industry.

"While mobile banking, or m-banking, is here now, with 800 million smartphones already in circulation globally, m-banking is only going to grow," Carroll said. Prefacing his Finovate remarks, Carroll asked, "How do we make m-banking safe and practical? You can't hold your smartphone in one hand and your bank secure key in the other when walking down the street. That doesn't make our lives easier. A much simpler solution is using out-of-band, real-time, multi-factor authentication and transaction verification."

At FinovateEurope 2012, Carroll will present ValidSoft's solutions, including VALid® and VALid-SVPT. For details, see: www.validsoft.com/solutions

VALid® is a telecommunications-based multifactor authentication and transaction verification platform that provides protection across multiple electronic banking channels, including Internet, m-banking, IVR /contact-centre, mobile payments and Card-not-Present transactions.

Using patented voice-based Out-of-Band authentication and transaction verification, the VALid® platform combines visible and invisible protection against multiple threats, including Pseudo Device Theft, e.g. SIM Swap and Call-forward Unconditional (CFU) fraud, Man-in-the-Middle and Man-in-the-Browser (MitM/MitB). Phishing, key-loggers, screen scrapers etc. also are covered. The solution can also extend to three and four factors through a proprietary biometric voice verification plug-in, VALid-SVPT, and Proximity Correlation Logic; knowing where someone is or isn't.

ValidSoft's proprietary technology adds security by correlating the location of a financial transaction with a user's mobile device. The technology is able to make this correlation between the mobile device and the transaction in real-time. It does not track customers and maintains complete customer location privacy.

ValidSoft's partnerships include Adeptra, www.adeptra.com, which will offer ValidSoft's fraud management solutions to its clients. Adeptra is believed to be a global leader in customer communications.

In addition, ValidSoft has been awarded two EuroPrise Privacy Seals by the European Union for consumer privacy protection within its products.

About ValidSoft
ValidSoft is a subsidiary of Elephant Talk Communications Corp. (NYSE Amex: ETAK) (www.elephanttalk.com), and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft's solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit www.validsoft.com.

About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE Amex: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit www.elephanttalk.com.

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