There is one new aspect of online notarization that is pushing things into hyperdrive, as opposed to decades ago. Like the portable CD player before the MP3 and then the iPod and iPhone, there was in-person online notary verification before knowledge authentication, and then biometrics.
Online Notarization has already taken the time it takes to get legal documents signed from over 2 hours. Including all the driving around to meet up with a notary do the deed and drive home to under 20 minutes from the comfort of your living room. Using biometrics makes this 20-minute process faster, easier, and more reliable. It also eliminates the barrier to entry.
Innovations in Online Notary Technology
Biometrics technology works by capturing a scan of your physical attributes to verify your identity. Many are already familiar with the process of using your thumbprint to open up your phone. For remote online notarization, biometric verification scans your face to verify your identity. In other words, your face or “physical being” is now the key to unlocking your online notarization car.
For KBA (knowledge-based authentication), one must provide a record of residence within the United States along with a Social Security number. This locks out a lot of people from the system who need legal documents processed on time. Namely, this locks out recent immigrants, anybody foreign and overseas, and lower-income members of our society.
So overall, this technology benefits everybody. Clients in high-volume industries or those who are new to the country can benefit from notarizations. Of course, this is also highly beneficial for troops stationed abroad throughout the world. Anyone with a cell phone and an ID can get their legal documents processed with biometrics technology.
No more will they have to search the Internet or Yellow Pages to find a notary near their area, no longer will they have to get in their car to meet a notary or clean up their house to have a mobile notary come over. The notarization process can now be completed in less than 10 minutes using biometrics and on-demand notarization.
Analogy
To complete the analogy started above, the Walkman or portable CD player was initially a revelation, but all in all a bit too bulky to use for everything you wanted to listen to on the go as Mobile notaries were a great solution to save the esign time, but they still required a higher use of gas a lot of time from the notaries and you still had to have a comfortable place for both parties to meet. Altogether it was still a cumbersome experience.
On an mp3 player, you had to slowly click through files and songs and it was nice, but it was still a bit of a slog, and do what you wanted quickly. The iPod added the spinning wheel and eventually a touch screen and listening to music on the go has never been the same. As online notarization near me has taken off, especially in a post-COVID digital world, it provided a greener more secure solution but still suffered from higher than necessary failure rates and locked numerous underprivileged individuals out of the market. Biometrics technology is to online notarization with the spinning wheel and the touchscreen was to the iPod and iPhone.
Conclusion
If you have any doubts about how biometrics is going to change the way the legal docs are signed as well as the way business is conducted moving towards the future, market experts are predicting the total biometrics market to reach $127 billion by 2030. Biometric compound annual go-to growth rates are already growing at 13 to 15%.
