For shareholders and investors, transferring securities just got a whole lot easier with the introduction of eSignatureGuarantee.com (link).
In order to transfer securities – whether it’s stock, a 401K, an estate trust, whatever it may be – the transfer agent industry requires what is called a medallion signature guarantee, which essentially proves your identity and helps protect shareholders from fraud. To obtain a signature medallion one must physically go into their financial institution or bank of choice to get one. Not only is this time consuming and outdated, but many financial institutions, such as the Bank of America and many community banks, have stopped offering this service, literally leaving shareholders with nowhere to turn.
In today’s digital world, almost every service is offered through a technology solution – shopping, banking, dating – you name it. So it’s quite surprising there wasn’t a web solution available to simplify this process for shareholders.
Having run into this problem first-hand, Seth Farbman launched eSignatureGuarantee.com, which is the only digital platform that provides shareholders with the ability to obtain a signature medallion through a web-based platform using ID verification technology.
How does this work?
The eSignatureGuarantee portal utilizes unique, intelligent, multiple choice knowledge-based authentication data questions to validate that someone is who they claim to be. It then utilizes dual authentication technology and accesses thousands of data sources containing public records to validate a customer’s identification while allowing customers to transact with fraud detection tools in a fast and uninterrupted process.
The process:
- Regardless of which transfer agent you work with, simply go to eSignatureGuarantee.com and the platform will process, verify and confirm your identity in order to provide customers with a signature guarantee for the transfer of securities. Customers will also be required to present a copy of their driver’s license or passport.
- Irrespective of if you are an individual, a corporation, trustee or executor, eSignatureGuarantee’s patent pending platform enables the ability to provide a digital signature or the option to sign and fedex a “pen to paper” document. All signatures are guaranteed within 24 hours of receipt.
eSignatureGuarantee is not just a luxury service. The platform certainly simplifies the stock transfer process, but as more and more banks stop offering this service altogether, it is a serious paint-point for shareholders. eSignatureeGuarantee is working to fill that increasingly large void in the marketplace while removing the complexity that can be associated with securities transfer requirements.
Seth Farbman
Guest Post: Seth Farbman has built a career in servicing private and public companies. Mr. Farbman was the Co-Founder and President of Vintage Filings which he sold to PR Newswire in 2007. In this role, Mr. Farbman serviced over 3,000 publicly traded companies to provide SEC EDGAR and financial print services related to IPOs, Proxy Statements, Annual Reports, Shareholder Meetings and all aspects of compliance filings. Mr. Farbman was a founding partner and a Co-Chairman of Vcorp Services which he sold in October 2016 to Wolters Kluwer. Prior to starting Vintage Filings, Mr. Farbman served as a securities attorney at a New York Law Firm with a concentration on securities regulation.
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