ValidSoft Announces Official Opening of New York Office.

NEW YORK -- ValidSoft (www.validsoft.com) is an innovative young software company that is well positioned to capture the market for security systems in the US, Europe and Asia's online economies. ValidSoft was founded in 2003 by Pat Carroll and Joe Farrell, who brought decades of expertise in the financial markets and telecommunications IT to their high-potential start-up.

CEO Carroll, formerly of Goldman Sachs, predicts that the company's major success will come with the growing demand for tighter security protection required by financial institutions that move to internet banking in compliance with regulatory initiatives in the coming decade. "ValidSoft will be a partner to the expansion of e-commerce by banks," he says. Up to now, retail banks have offered internet services as a way to give customers efficient access to account information and as a means of cutting transaction costs.

The installation and upgrading of internet capability has enabled banks to realize major cost savings--yet consumer interest has begun to wane and now lags far behind the level that is possible given today's technology. One main reason is online fraud, which has made consumers wary and eroded their confidence in internet solutions.

ValidSoft has introduced VALid[R] as an authentication and transaction verification tool for combating online and cross-channel fraud in a cost-effective manner. VALid[R] provides security protection against traditional attacks as well as newer forms of hijacking such as Man-in-the-Middle (MitM) and Man-in-the-Browser (MitB). VALid[R] provides real-time, out-of-band (OOB) conversational authentication and transaction verification and is designed for large-scale implementation in situations where prevention of fraud in real-time is a pre-requisite.

"VALid[R] was designed to meet the needs of the 21st-century economy," says Carroll. "The demand for secure internet banking, phone banking and other channels (e.g. contact center) will only increase. Banks are in the unique position to capitalize on the untapped demand for internet solutions and expand their customer base while cutting costs." Intelligent security systems will offer banks a big marketing edge.

Following significant interest and demand for ValidSoft products, and as part of a continued international rollout, ValidSoft recently announced the opening of its new corporate offices in the United States at 345 Park Avenue, New York, NY. ValidSoft will service its US clients from this location.

ValidSoft has headquarters in Tullamore, Ireland, and additional offices in New York, London, Sydney, and Singapore. The company will expand its employee base as it continues its international expansion in the US, Europe and Asia throughout 2007. Further information may be found on the corporate website located at: www.validsoft.com.