The SSA Presents: Did you Know?
eSignatureGuarantee.com offers medallion guarantee solution for shareholders in need.
Did you know that the eSignature Guarantee Group, LLC, an SSA member and a member of the Securities Transfer Agent Medallion Program now offers a solution for shareholders in need of a Medallion Guarantee?
HOW IT WORKS AND HOW IT HELP SHAREHOLDERS:
eSignature Guarantee’s advanced identification verification technology is part of an online platform that allows shareholders to obtain a medallion signature guarantee for the transfer of securities. The service is available for individuals and corporate entities and was designed to accommodate physical certificates, book entry holdings, 401k rollovers, annuities and other forms of securities holdings.
eSignatureGuarantee.com replaces an otherwise time consuming process of obtaining a required signature guarantee by being a bank customer of a particular branch and travelling to obtain it. This patent pending and innovate web based solution is simple yet its back end technology is not. In under 60 seconds, you will be able to set up a user name, password, you will be provided with unique knowledge-based identification verification questions which are generated in real-time and the knowledge needed to answer the questions is not available in a person’s wallet, making it near impossible for anyone other than the actual individual to know the answer and obtain access to secured information. For additional security, the platform limits the period of time in which a user must respond to questions and limits the number of attempts to prevent answers from being researched. After passing the questions, the platform will generate two unique factor authentication codes which will be sent to the user’s cellphone and email.
eSignature Guarantee’s technology will then run the data provided through multiple watch lists as well as conduct an automated OFAC (Office of Foreign Assets Control) check. The eSignatureGuarantee.com verification services have access to over 10,000 resources and more than 33 billion records that represent 400 million individuals while applicable data is updated hourly.
After the user successfully passes these online steps and provides a copy of their driver’s license, the users ID has been validated as an individual and can proceed to obtain a medallion signature guarantee. eSignature Guarantee’s compliance team may require necessary original supporting legal documents for a corporate entity, trust or transfer of annuities before they will affix a medallion signature guarantee stamp, but this overall solution provides a desired result – to ensure that the signing person is the shareowner or authorized representative and has the legal capacity to sign.
As an additional layer of fraud prevention, eSignatureGuarantee.com conducts random reviews on stock certificate numbers provided which are entered into the Securities Information Center (SIC) which operates the Securities and Exchange Commission’s Lost and Stolen Securities Program. This allows eSignature Guarantee to make sure that none of the certificates being stamped are being claimed as lost or stolen.
For ease of use, a pre-populated FedEx label will be generated and the signed original stock power or stock certificate can be sent out to eSignature Guarantee’s office to obtain the green medallion stamp with a transaction cap of $250k. All transactions are aimed to be completed within 24 hours of the date of receipt.
DISCLAIMER: While the SSA endeavors to share solutions and products with its members that may assist them in doing their jobs more effectively, we do not endorse any particular solution, vendor or product. It is up to each member to investigate, assess and determine if a particular solution and/or product can help them address an issue or concern.