Anyone who has had to get documents notarized in the past will be well aware of just how antiquated the process is. Having to visit a notary in person and all of the funky work with personalized stamps and seals is nice from a quaint sort of historical perspective, but not so great if you simply want to get a document notarized quickly and easily.
Which is where Notarize comes in. Notarize is a digital, end-to-end remote notarization platform. The company, which has received almost $11 million in funding to date, is aiming to deliver faster turnaround times for people using the services of a number of verticals: financial services, real estate and legal among them.
Notarize is today announcing Notarize for Business, a portal that is designed to further streamline the process of collecting notarizations that businesses require from counter-parties or customers. This platform will be a boon for organizations that have a high volume of documents that require notarization -- using the platform, organizations can send documents, have annotations and notarizations performed, and generally track the workflow of their documents.
Notarize has a broad range of functionality, including:
- Prep, manage and send documents: Businesses can upload files, control whether the customer can annotate or simply sign, and alert their customers to the transaction by email.
- Ensure chain of custody: Businesses can now send documents to be notarized with the assurance that they cannot be altered before being returned.
- Track their customer's progress: Access a dashboard of all notary transactions and receive updates on their customer's progress.
- Access a full view and record of transaction details: After a notarization is complete, a copy of the notarized document is automatically returned to the business -- including a video recording of the transaction and other details that will help businesses to dramatically reduce fraud in their most important transactions.
"Notarize for Business allows companies to finally provide their customers with a modern and improved notarization experience, while also saving hundreds of hours a year in productivity," said Adam Pase, co-founder and COO, Notarize. "This new portal is particularly impactful for businesses that notarize documents on a daily basis -- in fact, our business customers tell us that getting notarized documents sent back was a process that used to take weeks but now only takes minutes."
I'm a longtime user of electronic signing and form-filling tools. HelloSign, my platform of choice, saved me a huge amount of time. I don't have a massive number of documents to fill in and sign, but there are enough that HelloSign makes a material difference to my day.
One functional requirement that I don't have, however, is for document notarization -- it's just not something I need. I can absolutely understand, however, for industries and individuals who do need documents to be notarized, that what Notarize is offering is truly transformational.
Of course, the barriers to entry for another vendor wishing to offer a similar service are pretty low, and it would be fair to wonder about Notarize's defensibility. But business issues aside, what Notarize is offering makes absolute sense and will, I'm sure, see widespread uptake by appropriate organizations.
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