Secure remote online notarization: The market is ready, are you?

David Gaudio,

Government social distancing orders during the COVID-19 pandemic gave rise to temporary legislation allowing the use of remote online notarization (RON) in many states across the U.S. Since then, 40 states have put in place permanent legislation securing RON as a legitimate channel for notary publics to capitalize on. This turn of events has prompted analysts to question, “Is the time right for RON?” 

The stage is set from both a legislative and consumer readiness perspective. A recent consumer survey by Javelin Strategy & Research found that 75% are comfortable or neutral about closing loans remotely through videoconferencing. Borrowers cite speed and convenience as the reasons to use remote closing.  

What is equally interesting is the 25% of respondents who indicated they are uncomfortable for various reasons, one of them being security and risk of fraud Addressing this concern is crucial to the success of RON. 

To answer the analysts, yes the time is right for remote online notarization, but not only because it’s legal. The time is right, because there is now a vendor that imbues the remote notarization process with strong identity proofing and security to instill trust end-to-end throughout the process. 

The OneSpan Difference: Security in OneSpan Notary

The technology industry is renowned for its pace of change, and regulation is simply unable to keep up. This puts notaries in a situation where the legislation may set the parameters for the use of RON, but it doesn’t provide the security requirements to protect those digital agreements. As a result, different solutions are going to provide different levels of assurance and peace of mind. 

OneSpan Notary reimagines security to provide seamless protection. Credential analysis, e-signature, audit trails, and more are all integrated into a single solution from a single vendor. This means less risk, less friction, and a better overall experience. OneSpan considers security from the start as part of the user experience from day one of development. 

Security in OneSpan Notary 

Here are just some of the ways OneSpan Notary protects the notarization process from fraud and abuse with bank-grade security: 

  • Knowledge-based Authentication (KBA): To confirm signer identity, a multiple-choice questionnaire is generated from public and private data that only the individual can answer. 
  • ID Verification: In a swift and straightforward process, signers take a photo of the government-issued ID. From there, OneSpan Notary ensures the authenticity of the ID and the notary confirms the individual they see on-screen matches the government-issued ID. 
  • Audit Trail: Each session generates a single, unified audit trail that documents each event that took place. This audit trail provides reliable proof in the event of the audit or legal case. 
  • Secure Videoconferencing: The videoconferencing session is encrypted and includes built-in security controls to ensure individuals only sign-in to their own account. 
  • Secure Electronic Signatures: Built on OneSpan Sign, notarized and e-signed documents use digital signature encryption to tamper-seal after each signature is applied. Should unauthorized changes to a document be made between signers or after notarization, these changes will become immediately apparent upon review. 
  • Session Recording: From beginning to end, the notarization session is recorded and stored for reference or audit. 

See the Remote Online Notarization Process with OneSpan Notary 

OneSpan Notary was created with notaries in mind to address their specific pain points and RON requirements while maintaining security and trust in the process. Watch this video tutorial and see how refreshingly easy a secure RON experience can be.

Remote online notarization
Javelin Strategy & Research

Why the time is right for remote online notarization (RON)

Download this Javelin white paper to learn how to identify a RON provider with mature technology capabilities, and the expertise to evolve as the regulatory environment changes. 

Download now

David Gaudio is the Senior Content Writer for all things security and e-signature at OneSpan with nearly ten years’ experience in digital marketing and content creation. David earned his BA in Publishing and Creative Writing and has since worn almost every hat in the digital marketing closet.