New feature by KoreConX All-In-One Platform securely allows investors and shareholders to use the same credentials they have already entered through a compliant, permissioned-based blockchain. With KoreID, all information is provided as needed and only as authorized by the individual.
NEW YORK, September 9, 2022 (Newswire.com) – Investing online would be convenient if you didn’t have to fill out form after form with the same information every time. This is what KoreConX addresses as investor fatigue: it can be an issue to have all documents in hand, and retyping all information multiplies the risk of typos. The tedium and frustration often makes the individual give up in the middle of the process. For that reason, KoreConX is launching the KoreID on Sept. 21.
To be eligible to use KoreID, companies must show their SEC filings; broker-dealers, their CRD registration; banks and funding portals must be in good standing with FINRA. This allows the whole process to be seamless and compliant.
KoreConX provides the login interface embedded into the web pages that use the All-In-One Platform. When a user logs into any of these regulated portals, they’re actually creating for themselves a KoreID that is kept secure in KoreConX’s KoreChain, a permission-based blockchain.
Dr. Kiran Garimella, CTO of KoreConX All-In-One Platform, is proud of what the company has accomplished: “We have eliminated the time wasted filling and re-filling forms, and reduced the risk of typos. Investors can simply recall their already certified information with a single click.” The best part is there are no additional fees to use it.
How it works – wherever an individual sees the KoreID icon within the compliant KoreConX ecosystem – a company website, an SEC-Registered funding platform, a broker-dealer website, a bank – the regulated investment forms can be filled in almost instantaneously. All the information is only provided as needed and as authorized by the individual. Even though the investors may not recognize the icon at first, they will enter their email address. The regulated platform will automatically detect that the individual already has a KoreID. As soon as the email address is entered, it will automatically prompt them to log in using the KoreID. Then, they can enter their password and answer a security question to be logged in.
Founded in 2016, KoreConX offers the first secure, All-In-One platform that manages private companies’ capital market activity and stakeholder communications. With an innovative approach to ensure compliance with securities regulations and corporate law, KoreConX offers a single environment to connect companies, capital markets and secondary markets. Investors, broker-dealers, law firms, accountants and investor acquisition firms, all leverage our ecosystem solution. For investor relations and fundraising, the platform enables private companies to share and manage corporate records and investments: it assists with portfolio management, capitalization table and shareholder management, virtual minute book, security registration, transfer agent services, and virtual dealrooms for raising capital.