Simplify and Expedite Remote Online Notarizations with SIGNiX
COVID-19 has changed the way millions of Americans do business, and many processes and procedures put in place during this time are likely to continue long after restrictions are lifted.
For credit unions, one of the tasks directly affected by COVID-19 has been notarization. For decades, notarizations were required to be completed in person and on paper. But in the wake of the pandemic, more and more states are allowing remote online notarizations (RON).
Strategic Link has partnered with SIGNiX, an industry leader in independent, cloud-based e-signature solutions, to bring RON capability to Northwest credit unions.
SIGNiX is the largest cloud-based digital signature provider based in North America, bringing safe, secure digital signatures and eNotary solutions to credit unions and other highly regulated industries. Its patented eNotaryDoX platform allows notaries and companies that employ notaries to do their own work and perform RONs in house instead of outsourcing the process. The identity authentication associated with RON is more reliable than the authentication utilized by many paper-based notaries, and technology is used to ensure the integrity of the identity document instead of a quick glance by a notary.
RON is essentially the equivalent of in-person, paper-based notarization, except that every step is conducted online, and all stored documents and transaction footage are encrypted for maximum security.
How does it work?
The process is simple and only takes a few minutes:
- The notary sets up the transaction, including uploading all documents that need to be signed and notarized, and schedules a video conference with the signer(s).
- Each signer takes a photo of both sides of their driver’s license or passport, enters the last four digits of their social security number, and then answers a series of knowledge-based authentication questions.
- The notary verifies the signer’s identity by knowledge-based authentication (KBA) and electronic analysis of identification credentials.
- The online notary appears in person before the signer in real time via two-way audio-video technology.
- The signer electronically signs the documents, and the notary electronically notarizes the documents by attaching an electronic notary seal and digital certificate.
- The notarized documents are emailed to all participants in the transaction.
- Video footage of the transaction and other related authentication data are saved in the notary’s electronic journal, along with information about the signer and a copy of the notarized documents.
Check out SIGNiX’s demo on its eNotaryDoX platform here.
Credit unions across the country are reporting great success with SIGNiX’s e-signature and RON solutions.
“Making our members happy is critical,” said Nancy Croix-Stroud, CEO of First Class American Credit Union, based in Fort Worth, Texas. “This technology will make it so much easier for them to do business with us. What once took days or weeks can be completed in minutes from any computer or mobile device with an Internet connection.”
Strategic Link is pleased to help bring RON solutions to credit unions in the Northwest through its partnership with SIGNiX.
“Remote online notarization is critically important to credit unions and consumers during the pandemic, and SIGNiX’s platform makes it easy and cost-effective,” said Corina Ruiz, Manager, Strategic Partnerships at NWCUA. “We’re thrilled to have them as a new partner and resource to our member credit unions now and in the future.”
To learn more about SIGNiX, please contact the Strategic Link team.
Credit unions can discover the latest innovations in fintech and member services at the virtual Strategic Link Trade Show, now open, free, and accessible 24/7. Simply log into the platform, browse dozens of virtual booths, and connect with the best business partners in the industry.