ValidSoft UK Ltd., a global supplier of transaction authentication solutions, in cooperation with its partner FICO, has launched it's the ValidSoft Device Trust solution with another major U.K. retail bank.

The new client, unnamed for security reasons, represents the largest U.K. deployment of the Device Trust solution to date, a press release said. It is the second such agreement for the solution, and continues to build on the partnership between analytics software provider FICO and ValidSoft, a subsidiary of Elephant Talk Communications Corp.

"After a successful period of further development and commercialization during 2014, we have experienced an exciting start to 2015 as we announce the launch of a second major bank to utilize our Device Trust solution in the U.K.," said Paul Burmester, CEO of ValidSoft. "This is testament to our successful and growing partnership with FICO, providing leading financial institutions with superior protection from fraud."

The growing threat created by fraudsters who maliciously redirect mobile telephone calls and text messages in order to defeat out-of-band authentication systems — and other fraud involving customer contact via mobile phone — has caused significant losses for affected banks.

The ValidSoft Device Trust solution helps banks protect the data and transactions of customers by securing their communication channels against account takeover, SIM swap, call divert and international roaming related fraud.