October 5, 2022
remote online notarization

Remote Online Notarization Makes Financial Transactions Seamless

An infinite number of documents are notarized by financial institutions, including Power of Attorney, auto title transfers, affidavits and deeds. Traditionally notarizations were conducted in person and on paper, but today’s consumers prefer to transact digitally. Therefore, financial companies have undergone major transformations—innovating extensively on digital possibilities and speeding up their shift to paperless operations. The adoption of e-signature and audio-visual systems has fueled the emergence of Remote Online Notarization (RON). It makes it easier, quicker and more efficient for financial institutions to get notarized signatures and provide a robust digital experience for its customers with RON.

Remote Online Notarization Plays An Important Role In Financial Services

A broad range of financial transactions necessarily entail notarizations. It is needed for both business-to-business and business-to-consumer transactions, and it ensures that the parties to the agreements are validated and the documents are accurately completed. Through the implementation of an online notarization platform, financial institutions can fully automate the whole transaction process. The time and money saved from a fully-online process can make a huge difference to financial bottom lines. Notarized documents are necessary for many events, including:

  1. Mortgage closings Equipment financing Credit repair forms Trustee certifications Wills Retirement plan changes & withdrawals Automobile financing & title transfers

Benefits of Online Notarization for Banks

RON provides numerous significant advantages, including increased security and enforceability, as well as a powerful evidentiary record. It enables signers to have a more convenient yet easy access experience with notarial services. It also provides a digital audit trail. This entitles the notary public and businesses to monitor notarial tasks from time-to-time and to ensure adherence to local laws and regulations.

  1. Reduced operating costs: Sending less paperwork for notarization saves substantial amounts of money. Reduced fraud: The security measures provided by Remote Online Notary service providers (like KBA verification) mitigate the possibility of fraud. Better customer satisfaction: Customers, particularly those aged 18 to 55, prefer digital services. Improved operational efficiency: Online notarizations have lower error rates that require re-execution.

Customers’ Experience for Virtual Notary Online

With an online notarization platform like eNotary On Call, financial institutions can deliver an end-to-end digital experience to their customers. Customers can upload their documents, authenticate their identity, and communicate with a real-life notary. The notary issues a digital seal and sends the original digital documents to the customer. The entire procedure takes about 15-20 minutes. This truly seamless digital notarization experience is safer, easier, and more secure than meeting with an in-person notary. It provides customers with the accessibility of a fully digital experience they desire. Remote Online Notarization is the most innovative way of notarizing documents because the entire process takes place in the digital domain from beginning to end. It eliminates the need for any paper exchange or direct physical engagement between a notary public and a signer.

eNotary On Call for a Fully-Digital Experience

With eNotary On Call, financial institutions like banks can now remotely and electronically notarize all their important documents. It gives your notary public the  legitimate digital tools to securely make the virtual notarization via an encoded audio-visual session. The online notarization helps you provide a full-fledged user-friendly experience for signers, preventing fraud with a solid audit trail and fast-tracks the speed in which you conduct business, all by taking your notarizations to a remote online notary. eNotary On Call makes it easy to send, sign and notarize agreements.

Final Words

eNotary On Call assists financial institutions, such as banks, in streamlining workflows and replacing paper from the process with Remote Online Notarization. Account opening forms, client onboarding documents, and loan applications have all been digitized, enhancing the customer experience and facilitating businesses to stand out from others. With the best remote online notary platform, documents can be notarized at any time, from anywhere when you have access to a computer, phone or tablet connected to the internet.

Learn more about how you can send, sign, and notarize remotely with eNotary On Call.

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