Socure and ValidSoft Partner on Identity Theft Protection Solutions for Social Networks
Socure, a New York-based company that develops cutting edge applications that protect the identity and reputation of both businesses and consumers across social networks, has partnered with ValidSoft, a supplier of advanced telecommunications based fraud prevention, authentication and transaction verification solutions, and subsidiary of Elephant Talk Communications.
Following a stringent technical evaluation process, Socure selected Validsoft’s special purpose security architecture SMART (Secure Mobile Architecture for Real-time Transactions) to underpin its own advanced security offerings in social networks. The derivative platform, known as SMARTsocial, is aimed specifically at social network identity authentication and verification, and ensuring the integrity of transactions resulting from the augmented reality intersection between social networks, financial services and other services where privacy and/or data integrity is paramount. Socure will launch its platform of scalable security solutions for the social web later this year.
Pat Carroll, chief executive officer (CEO) of ValidSoft, said: “We are excited about this partnership with Socure and see incredible potential for ValidSoft services in social network authentication and verification applications. We believe this will become a very important aspect of social media sites based on the recent hacking of Linkedin users which creates a massive Phishing opportunity for fraudsters. Following our recent partnerships with Adeptra, Utiba and Spindle, this is the latest market recognition of the effectiveness of our advanced SMART architecture, and that ValidSoft’s solutions are easily and quickly integrated into the offerings of strategic financial technology providers as well as into social network platforms. Traditional security methods are inadequate and unsuitable for the world of mobile social networks. We have customised our SMARTsocial architecture for authenticating mobile social network transactions, and we intend to become the industry leader in securing the social networking space.”