Remote Online Notarization (RON)
RON is here to stay and will continue gaining momentum.
With only about a dozen states left without any RON laws, 36 states have now turned to RON for notary services, including Tennessee.
Virtual working wasn’t the only huge remote increase thanks to the pandemic; there’s been a giant uptick for remote based services in all areas possible. Remote Online Notarization is the latest in these services for those in the real estate business. RON transactions increased by 547% from 2019 to 2020 according to an ALTA Vendor Survey.
Can RON be trusted? Growing cybersecurity concerns are a valid reason for shying away from services like this. However, you can be assured that this service is multi-layered with fraud protection.
- Knowledge Based Authentication (KBA) ensures that only the signer can access and sign documents.
- Digital Seals and Encryption are in place to prevent any unauthorized access.
- Credential Analysis Technology scans multiple forms of identification to positively identify the signer.
Although each state has it’s own regulatory systems in place, a common factor for all remote business services include cybersecurity. That’s where CloudSmart IT can assess if your business meets IT security requirements. With our highly specialized services in cybersecurity, cloud services, and network security, your agents will be fully protected to proceed with all types of remote working.
A few other items to take into consideration when turning to RON:
- Ask your underwriter if they will insure RON closings and keep them involved in the process.
- Does your lender have a preferred RON software provider?
- Does your IT company have the proper cybersecurity measures in place?
- Does the vendor offer training and support?
It has already been noted that RON does improve the closing process. Most agents using RON have experienced a reduction in errors during closings. Missing checkboxes and signatures cause costly delays, but RON platforms will alert users of any missed fields. By reducing operating costs, travel costs and error costs your business will save time and money. Putting those extra assets back into the security of your company ensures a long and profitable business life.
Don’t make the mistake of thinking RON is just a fad. As with most other remote services, it’s here to stay and soon clients will be expecting this service.
Be sure you already have these in place before starting RON:
- A secure email address with email encryption.
- A strong internet connection with back up.
- A webcam.
- A secured web browser.
- Capabilities to upload ID through phone or another approved device.
Whether it’s email encryption, password protection, back up internet connection, cloud storage or network security, using our highly trusted managed services you’ll be assured the latest updates in remote business will work for you. We make set up and integrations easy and efficient! CloudSmart IT has the expertise and resources your business needs to stay cybersecure in a remote working world. Contact us today and find out how our cybersecurity services can keep your business secured and compliant.
Book a free Virtual Network Assessment to find out how ready you are to set up RON. We’ll also look for any deficiencies in your network and set you up with a plan to keep you and your agents protected.