Accounts Receivable Management Featured Article

First Online Notarization Makes History

July 09, 2012

United States legal history was made on Friday when the first online notarization online occurred between a signer in Los Angeles and a notary in Richmond, Virginia.

The notarization, which used audio-video conferencing technology, was the first to take advantage of the new Virginia law that went into effect on Friday and allows Virginia notaries to perform online notarizations for any signer in any state, explained e-signature workflow specialist, Safedocs in a news release. 

The notarized document was made tamper evident and an automated electronic journal record that incorporates a digital recording of the transaction was created as part of the process.

“The digitally notarized PDF document has the same legal effect as a pen-and-ink paper document and the notary’s electronic journal data virtually eliminates the possibility of identity theft because it includes an image of the signer,” Safedocs said.

The online notary process lets notaries identify signers using knowledge-based authentication, according to the company, and this reduces the chances of forgery that are inherent with validation documents such as drivers licenses.

Further reducing the chance of fraud during the notarization process is the inclusion of a digital recording of the transaction in the notary’s journal entry.

Safedocs, which has been promoting the adoption of compliant digital document workflows since the legalization of e-signatures in the U.S. in 2000, is currently developing an online notarization service to assist Virginia notaries with the new law. It will roll out the service first to business customers and then individual notaries.

“The new process will result in a secure alternative to paper notarization that is more convenient and more secure for consumers and businesses,” the company explained.

In June, Safedocs announced that it had incorporated the National Notary Association’s (NNA) secure eNotarization system into its product offerings. A key feature of the system is confirmation before signing of the notary’s electronic signature and commission status through the NNA’s National eNotary Registry.

“The Safedocs platform is fully-compatible with existing systems used by businesses for creating electronic documents and records,” said Safedocs president, Terry Van Bibber, in the announcement. “By fulfilling the need to electronically facilitate millions of loan modifications currently being handled by the lending industry, the system is ideal for use with eMortgage and real property transactions.”

No special training is necessary for notaries using the Safedocs system, the company noted.



Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Accounts Receivable Management Articles

TransUnion, Global Debt Registry Team up to Offer Debt Registry Services

TransUnion, a provider of risk management and information services, has announced that it is teaming up with Global Debt Registry (GDR) to market debt registry services for debt buyers, debt collectors and financial institutions. [ Read More ]
04/23/2015

Linked2Pay and SourceHov Partner On Bill Payment Platform

When it comes to the online and mobile bill payment platform, it seems more and more companies are jumping into the fray. Along those lines linked2pay and SourceHOV announced a new partnership late last week that would expand Accounts Receivable and Payable services to include an integrated cloud-based remittance and payables solution. This partnership benefits both companies because SourceHOV has long been an expert in archiving large volumes of invoices and checks, while linked2pay deals with … [ Read More ]
04/23/2015

First Party Collection by Atradius Lets Business Start Early in Collection Activities

Atradius Collections, provider of trade invoice collection services in 96 percent of the countries across the world, has launched First Party Collection, a new service that allows companies to outsource accounts receivable management just after due date. [ Read More ]
04/22/2015

Anytime Collect Increases its Global Presence with Availability of Four More Languages

According to UNESCO, there are more than 6,000 languages on our planet. While the vast majority of them are spoken by less than 10,000 people, there are many languages that enjoy large enough numbers worthy of businesses addressing these demographics in their native tongue. For companies looking to enter new markets, one of the best ways is making their products and services available in as many languages as possible. Although this is not always feasible, translating it in the languages spoken b… [ Read More ]
04/20/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!