Remote Online Notarization (RON) is a fast and reliable way to notarize documents. What does this mean? Remote online notarization enables the signing of digital documents with the same level of certainty as if they were signed in person, without ever having to leave your desk.
A certified document can be notarized from anywhere, which means that it is possible for someone living on one side of the world to sign a document for someone living on the exact opposite side of the world.
These are no minor documents. These are legal and trade documents required for a society to function. So this is no small thing.
How exactly could this benefit you and your business? Well that depends on you and your respective industry.
How Does this Change the Real World?
Let’s go over a few examples. Remote online notarization can be used to securely sign contracts from anywhere. This is beneficial for law firms who may have a client on the other side of the world and are then able to send documents over remotely to get them signed without having to wait in long queues at an embassy or consulate. In this instance, we see how law firms can use the process of remote online notarization to make their workflow more efficient.
How might a Real Estate Company or Title Company might benefit from the same scenario. Imagine a client that is about to purchase their first home and they are out of the country on business. They’re able to complete the necessary forms remotely with a notary who has been authorized by your company. You’ve saved them time, money, and effort while simultaneously ensuring that they receive good service – all thanks to remote online notarization.
Title Agencies are able to increase their margins by incurring a lower cost on their post-closing reviews, lenders are able to deliver funds faster, and signing agents are able to perform more closings per month. This RON development that is taking place throughout the country was always inevitable.
How does this change a Notary Public’s World?
Remote Online Notarization is often touted as the next big thing for notaries, but what does it mean? Well, RON being essentially, exactly what it sounds like – you don’t need to be in the same location as your client or witness anymore, this means you can work from home. You can be at your home office signing documents on behalf of your clients while they’re sitting in their home as well.
Certainly, it is a great opportunity for notaries to network online. Notaries Public who have a strong RON workflow can expect to see an increase in customers and lower turnaround times for their requests. Especially the notaries that are adept to or gravitate towards to working in digital spaces.
This is all made possible through audio-visual technology specially designed to service everybody’s notarization needs. Whether you need multiple signers or extra witnesses, it can all be performed and documented on an RON platform.
How does Remote Online Notarization Protects Users?
The RON application, which is connected to a video feed from the signing party, allows all parties in the document transaction to share their identity information with each other prior to executing the signature process. With access to this RON technology , notaries can also use the tools provided for Knowledge Based Authentication (KBA) and they can run government ID’s against official databases in order to confirm the signers identity.
This all serves to make things easier and faster for the customer, while also providing better documentation than previously possible. It just makes for better transaction transparency.
Certain agencies like MISMO (Mortgage Industry Standards Maintenance Organization) provide guidelines and standards by which to protect consumers who use RON. If you are a Title Company, it is a good idea to work with a platform that has been MISMO approved or at least is in the process of getting MISMO approved so that you know you are getting a safe and quality RON product.
What Products are available in the Remote Online Notary Industry?
Speaking of products, it is important to mention what kinds of products are RON products are really disrupting the industry. RON helps individuals get their documents signed faster and it does the same for the Title Companies that rely upon them in order to sell houses. One of the wisest products a Title Company could invest in, is that of a Remote Online Notary White Label Solution.
This allows you to plug in API into the back end of your site, making it possible for consumers and homebuyers to conduct their entire signing without leaving YOUR website. The API system is set up so that there is minimal work on the end of the buyer, both in the initial integration as well as through out the document signing process.
Remote Online Notarization White Label solutions help businesses get ahead in their respective markets by providing them with a safe and quality way to do business remotely, without compromising on customer experience or risking legal problems.
Did we mention the record-keeping is automatic?
We predict big things coming to the Remote Online Notary frontier in this decade. We are excited to watch a transformative shift in the way the public interacts with legal and financial transactions.
With Remote Online Notarization (RON), you are able to securely access your information anywhere and anytime as long as you have your phone, tablet, or computer and some Wi-Fi.