Today’s rapidly evolving technology has already led to the disruption of a number of industries. News and entertainment has become far more interactive, movies have gone from the big screen megaplex to the personal 6-inch pocket screen, and the taxi industry has been gutted by the Ubers and Lyfts of the world. One of the more recent industries to see massive disruption is finance. The stodgy, old institutions–happily cultivating their image as conservative and wise—are quickly being forced into uncharted territory.
All this has led to a number of changes in the old rules of facilitating financial transactions – perhaps most notably, a focus on security that’s so strong, it’s leaving many individual stockholders unable to access their own accounts and funds.
“I come from a stock transfer background,” says Seth Farbman, Co-Founder of eSignatureGuarantee LLC, a company that offers an online platform that allows stockholders to obtain a medallion guarantee for the transfer of securities. “So, historically, somebody could just go into a bank, show their driver’s license, and it would be a free service, and they’d be able to get a medallion guarantee. What we’re finding is – and more so over the last year and a half – is that a lot of the banks, both commercial and community, are not offering this service any longer.”
What’s a medallion guarantee? “Anytime someone wants to transfer securities, whether it’s in an actual certificate form, or electronic format, if they want to transfer it to someplace else, they’re required to provide a green medallion signature guarantee stamp,” Farbman says. “And essentially, that lets the transfer agent know that somebody has reviewed the material, and this stamp is confirming that this person who’s signed for it is in fact who they say they are, and they have the authority, or the right to sign this type of document.”
It’s a problem that Farbman has experienced personally.
Written by: Brett Hershman , Benzinga Staff Writer
It’s almost that time of year.
The 2017 Benzinga Global Fintech Awards is a competition to showcase the companies with the most impressive technology that are paving the future in financial services and capital markets.
To get you prepared for this year’s awards, Benzinga will profile each fintech company that has applied. Want to get involved? Submit your company here. For this installment, we spoke Seth Farbman, Founder of eSignatureGuarantee (answers have been edited for length and clarity).
What does your company do? What unique problem does it solve? Continue reading “eSignatureGuarantee Allows Stockholders To Obtain A Signature For Securities Transfer”
March 7, 2017 By Claire Murdough, Posted in Customer Stories
eSignatureGuarantee gives shareholders the power to quickly and safely obtain a medallion signature guarantee before transferring securities. The company offers a “patent pending and first to market” platform that bundles compliance review, identity authentication, and signature guarantee paperwork into one flow.
They integrated HelloSign’s API into their platform, allowing shareholders to sign required transfer documents and stock power forms online for the very first time.
As a result, they’ve simplified the securities transfer process, saved their customers time and money, and solved a pain point for shareholders who otherwise would have extreme difficulty obtaining a medallion signature guarantee.
Read on to learn more!
Clients Now Have Access to a Technology-Enabled Solution to Obtain a Signature Medallion Guarantee
NEW YORK, NY / ACCESSWIRE / February 28, 2017 / eSignatureGuarantee.com, a unique online digital platform for shareholders, today announced that Direct Transfer, a division of Issuer Direct Corp. (NYSE MKT: ISDR), has selected the eSignatureGuarantee.com platform to provide shareholders with a modern solution to obtain a medallion signature guarantee.
Direct Transfer is the latest stock transfer agent to align with eSignatureGuarantee.com in order to simplify the security transfer process for investors. A medallion signature, which verifies a customer’s identity and helps protect shareholders from fraud, is a requirement when transferring securities. eSignatureGuarantee.com leverages ID Verification technology through a web-based platform to simplify and modernize the process, allowing shareholders and investors to obtain the requirements needed more efficiently and quickly. Continue reading “Direct Transfer Selects eSignatureGuarantee.com to Simplify the Securities Transfer Process for Shareholders”