IMM, the only eSignature provider that specializes in eSignature and digital transaction solutions exclusively for financial institutions, today announced it has named Notarize, the category and industry leader in remote online notarization (RON), as its partner of choice for its clients.
What drove this partnership is twofold: the first was the natural and frequent requirements in the market for notary services on e-sign documents, and then the pandemic’s impact and the resulting drive for increased digital and remote solutions. IMM customers will now be able to have e-sign documents notarized in a fully remote environment. This alleviates multiple pain points in the process that weren’t previously fully digitized: having to locate a local notary, schedule an appointment to visit a branch, or travel to meet a licensed notary to sign documents in-person and face-to-face.
“In recent years, advancements in technology and forward-thinking regulations have helped streamline and automate the notarization process to bring it into the digital era, and we are proud to partner with Notarize to offer this popular online notarization solution to our customers,” said Michael Ball, Senior Vice President of Strategy and Innovation at IMM. “This solution aligns with our strategy to deliver advanced solutions to the financial services market to enable digital processing from virtually any channel.”
Remote online notarization is a fully digital experience that is safe, simple, and secure and mirrors the traditional in-person notarial act. A signer appears before a notary on a video call, and together, they complete, sign, and officially notarize a document. Each video session is recorded and retained along with an audit trail of the transaction and the tamper-sealed notarized documents. Signers only connect with a notary after completing several security measures, including personal identity challenge questions and credential analysis of their government-issued ID, resulting in a signer verification process that is more fraud-resistant than traditional paper notarization.
Notarize gives two unique options for financial institutions to choose from based on their specific needs: a platform for in-house notaries to use, or an on-demand 24/7 service where financial institutions and their customers can connect with live, commissioned notaries 24/7, without having to employ any directly. With the in-house notary solution, the bank or credit union has its own commissioned notaries, and those notaries perform notarizations through the best-in-class Notarize service platform. The on-demand product offers 24/7 availability of commissioned notaries from across the country via the Notarize platform.
“In this newly digital era, an online notarization doesn’t just digitize the actual notarization, it allows the industry to digitize every aspect of what comes before and after and be truly digital from start-to-finish,” said Pat Kinsel, Notarize founder and CEO. “We’re proud to partner with IMM to bring online notarization to more and more financial institutions to elevate the overall experience so their customers and the end-users can be best equipped with the digital tools for tomorrow’s economy.”