LONDON, June 4, 2014 /PRNewswire/ -- ValidSoft UK Limited ("ValidSoft") (www.validsoft.com), a global supplier of transaction authentication solutions utilized by financial services companies, governments and business automation sectors and a subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK), today announced that it has been featured in a special report,"Speech and Voice Recognition White Paper" published by Biometrics Research Group, Inc., an independent research group. In the report, ValidSoft was identified as one of the global leaders in the field of voice biometrics. According to the report, the voice biometric market has a potential market size of $2.5 billion globally across all market sectors in 2015, driven by the banking and financial sector which is estimated to spend at least $750 million on voice biometrics by 2015.
The report, which looks at both speech recognition and speaker/voice recognition, provides a basic analysis of respective market sizes with an analysis of some of the industry's leading vendors including Nuance Communications, ValidSoft and VoiceTrust. The research conducted identifies "champions" in the field of voice biometrics, with ValidSoft receiving recognition for its core voice biometric capability together with its implementation of voice biometrics for the mobile channel and financial services sector, both market segments where ValidSoft is strategically focused and intends to expand its presence.
"As I presented three weeks ago at the Opus Voice Biometrics conference in San Francisco, 'Biometrics' is entering the mainstream and user adoption is accelerating, especially around the application of voice technology in banking which leads the field in terms of ease of use," said Paul Burmester, CEO of ValidSoft. "This report is independent support of our voice biometrics engine and its commercial potential. It is also a reward for the great accomplishments our staff has achieved in developing this voice biometric engine."
About ValidSoft UK Limited:
ValidSoft, a subsidiary of Elephant Talk Communications Corp., secures transactions using personal authentication and device assurance. We help our customers to reduce fraud losses and improve customers' experience. As part of our multi-factor authentication, ValidSoft integrates its leading Voice Biometric engine into multivendor solutions or as a standalone system. ValidSoft serves multiple clients in the financial, government and business automation sectors and is the only company to have been granted three European Privacy Seals, reflecting its commitment to promoting strong data privacy. Visit: www.validsoft.com.
About Elephant Talk Communications Corp.:
Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a global provider of mobile proprietary Software Defined Network Architecture (ET Software DNA® 2.0) platforms for the telecommunications industry. The Company empowers Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, superior industry expertise and high quality customer service without the need for substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Network Operators amongst its customers, including Vodafone, T-Mobile, Zain and Iusacell. Visit: www.elephanttalk.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Elephant Talk's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Elephant Talk's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the ability of the Company to regain compliance with the listing standards of the NYSE MKT LLC. Because such statements involve risks and uncertainties, the actual results and performance of Elephant Talk may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Elephant Talk also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested may be found in Elephant Talk's filings with the Securities and Exchange Commission (the "SEC"), copies of which are available from the SEC or may be obtained upon request from Elephant Talk.
Media Contacts:
Investor Relations:
Steve Gersten
Elephant Talk Communications Corp.
813-926-8920
Steve.Gersten@validsoft.com
Thomas Walsh
Alliance Advisors
212-398-3486
twalsh@allianceadvisors.net
Public Relations:
Michael Glickman
MWG CO
917-596-1883
mike@mwco.net
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SOURCE ValidSoft
