Blogs Notarize Genie
Remote Online Notarization is the Perfect Business Solution
Content
Despite being around since 2011, the popularity of Remote Online Notarizations is just starting to take off. There are two types of companies in the notary world, those with an in-house notary and those who leave it to their client to find a notary on their own. Both businesses can benefit from an online notarization solution like Notarize Genie's platform.
For those with a notary in-house, a remote online notarization platform is a great way to increase efficiency and provide a convenient solution to your clients. Online notarizations offer a terrific source of additional revenue for businesses lacking a notary solution. To understand how online notarization can benefit your business, it is important to know how it works.
What Is Remote Online Notarization?
Remote Online Notarization, also known as RON, eliminates the need for the notary and signer to be in the same place when notarizing a document. The signer and notary connect using audiovisual technology and use an electronic tamper-proof version of the document. To sign the document, the signer uses an electronic signature, and the notary uses an electronic certificate and seal.
Is Remote Online Notarization Safe?
RON utilizes safe and secure technology to connect the notaries, and their use of technology to prove the signer's identity makes it more fraud and tamper-proof than in-person signings. To verify their identity, the signers must undergo a three-step process to eliminate fraudulent signatures.
The first step utilizes Knowledge Based Authentication, KBA, performed by a third party. KBA asks the signer questions about their identity and personal history. A signer must score 80 percent to pass and move to the next phase.
Next, the signer must present a government-issued ID, which a third party receives. The third party uses technology to confirm the ID is not fraudulent and uses information from the issuing source to confirm the details on the ID.
Finally, the signer connects with an online notary and must present their government-issued ID. Only after the notary verifies the ID matches the signer will the notarization begin.
Additionally, the greatest fraud deterrent for online notarizations is the video recording of the sessions. Recording online sessions occur for quality assurance and legal purposes, ensuring procedural correctness and protecting the signer and notary from fraud allegations. Between verifying IDs and recording the notarizations, there is no method of notarizing a document than RON.
Is Online Notarization Legal?
In addition to being safe, RON is entirely legal. Even in the few states not allowing RON, a document notarized online in a state RON is legal has the same force and effect in jurisdictions not allowing RON. Additionally, businesses won't have to wait long until RON is legal in all states. The House of Representatives passed a federal law making online notarization legal in all states. The hope is the senate passes the bill soon, making it easier for everyone to notarize documents online.
RON for Businesses with In-House Notaries
Some businesses already have notaries working for them and may wonder why they need remote online notarizations. The answer is ease, efficiency, and growth. Getting a client to come into the office can become a headache and result in the business spending time and money chasing them down. With a RON platform, the notaries can bring the business's clients online, saving the hassle of finding an appointment time that works for everyone.
All businesses hope to achieve efficiency, and remote online notarization can optimize a business's use of its notaries. In-person meetings take time to set up, conversations may happen when the signer comes in, or other things may arise, and the session can take longer than necessary. Additionally, last-minute cancellations and no-shows waste notaries' time and result in a lost opportunity to make money on another notarization.
Remote online notarization allows the notary to quickly jump on a call without a preset appointment, notarize the document, and move to their next meeting or task. Online notarizations enable businesses to reduce the lost time associated with in-person visits.
Use Your Notaries In A More Productive Role
Notarizing documents is often a small portion of what a notary does at a business. Notarize Genie's remote online notarization platform provides on-demand notaries, allowing businesses to have their notaries perform other tasks. This is particularly effective for law firms, who can now use their paralegals and lawyers who are notaries in more cost-effective and revenue-producing roles.
Grow Your Online Notarization Business
For businesses with limited notaries, there are limits on how many notarizations they can perform. With increased efficiency using online platforms, notaries can fit more appointments into their day. With the ability to increase capacity, notary businesses have unlimited potential for the signing they can perform.
In addition to increased efficiency, businesses can grow their notarization business using Notarize Genie's on-demand notaries. Send your overflow of notarizations over to us and watch your business grow. With access to Notarize Genie's pool of notaries, there is no more turning down notarizations due to lack of capacity.
Notarize Genie can help you add more notarizations for your notaries or have our notaries handle your excess notarization. The possibilities are endless for how our online platform can benefit your existing notary business.
Online Notarization for Businesses Without Notary Services
When businesses with notary needs send clients to outside notary services, they fail to enhance their clients' experience and let money walk out the door. When clients go to a business, they hope to receive an all-inclusive service. Providing a notary keeps clients engaged with your business from the first steps of the relationship, drafting the necessary document or form, and providing the ability to perform the notarization.
A RON service provider like Notarize Genie can be a game-changer for businesses without notaries. You upgrade the client experience and open a new revenue stream by providing an online notarization service. Businesses can charge a service fee when they partner with a RON platform and can charge what they deem fair for providing this easy service.
Which Businesses Can Benefit from Remote Online Notarizations?
As the business world continues to realize the effectiveness of RON, more companies inquire about whether RON is right for them. In addition to the obvious businesses like law firms and financial institutions, online notarization can help apparent companies.
Attorneys and Law Firms
A law firm and attorney can receive immense benefits from utilizing RON. Not only can they notarize documents more efficiently, but they can also gain new clients by building up their online notarization business.
Another significant aspect of attorneys and law firms using RON is taking advantage of on-demand notaries. Using these notaries allows the attorney to focus on other areas while still making money by charging a service fee for the online notarization platform.
Mortgage Companies and Financial Institutions
Mortgage companies will realize the advantages of having a remote online notarization platform. In a fast-moving industry, speed and efficiency matter, and the streamlined notarization process with RON cuts down the time spent performing notarizations. RONs remove the necessity for everyone to be in the same room when closing on a mortgage.
Banks often employ notaries who are available to clients needing a document notarized. A remote online notarization platform frees bank employees to assist their clients with more traditional banking needs.
Real Estate Companies
From deeds to escrows, every real estate transaction has voluminous paperwork needing notarization. Simplify the closing process and eliminate headaches for homebuyers, title companies, and real estate agents.
Construction Companies
Construction companies hate spending time on anything unrelated to their projects' building. By utilizing efficient online notarization platforms, they can stop wasting time and money on in-person notarizations. A RON can notarize construction documents like permit applications, notices of commencements, building plan requests, contracts, and more.
Remote Online Notarization Can Help All Businesses with Notary Needs
Businesses benefiting from online notaries are not limited to those mentioned above. All businesses with notarization needs can utilize a Remote Online Notary.
Notarize Genie offers businesses access to a notary 24/7. Our platform provides live support for users who may have questions about the notarization process or experience issues during the session. If you have a question about how RON can help your business, give Notarize Genie a call or visit our website.
