What is a Digital Identification Verification Process? 

Many skeptics believe Remote Online Notarization (RON) is less secure than traditional notarization. Many people believe identity verification for the signing parties is less safe on a digital platform. People often need clarification on how a notary can ensure the person signing is who they claim to be when they are not in person and do not have the chance to touch their ID.  

We have broken down the digital ID verification process to help you talk with your consumers about how and why RON is safer and more secure than a traditional document signing process.  

What is digital ID verification?  

Just like traditional ID verification, digital ID verification is the process of proving the identity of a signor online before a sensitive transaction.  

How is identity verified online?  

Digital identification is verified in many ways. Dependent upon the transaction, multiple identity verification steps may be required. Below are a few ways that RON platforms may need your client to confirm their identity:  

• Government-issued photo ID: A signor an submit a photo of their ID, or they are requested to provide a real-time photo of them holding their ID.
• Bank login credentials: RON platforms have integrations with banking institutions that verify identity by having signors log in to their bank account within the secure platform to prove their identity.
• Facial biometric technology: Facial recognition uses algorithms to extract data from an image and compare it with other data to confirm whether the photos are the same individual.  
• Knowledge-based authentication (KBA): Applicants must answer highly identifiable questions from their credit profile to confirm their identity.  
• One-time password verification: A one-time password is sent via text or email to verify the applicant.  
• Two-factor authentication: This method requires an applicant to answer a security code sent to an email or cellphone.  
• Digital footprint analysis: Information from online activity can be used to verify their identity. This information is typically linked to their email address and phone number.    

What are the benefits of digital id verification?  

The verification steps above help prove identification while reducing the chance of risk and fraud. It also is more secure for your consumer’s sensitive data. Before your consumer embarks on a digital identification process, the most important thing you can tell them is that they must pay attention during the process. If they fail the ID verification process, it will take 24 hours before they can try again.  

The benefits of digital id verification are not just at the consumer’s level. It helps automate data entry processes by extracting data and eliminating data entry tasks- increasing speed and efficiency. Finally, the digital ID verification steps help lenders meet strict Know Your Customer (KYC) regulations and ethical standards.  

With increased identity theft, your client’s security and consumer experience should be at the top of your priority list.  

A Better Way to Close with BNN Services     

Since 2008, BNN Services has been trusted by title agencies, mortgage lenders, servicers, and consumers to perform loan and document signings in multiple languages across the country.    

Unlike other signing services, BNN Services “touches” every file 8 to 9 times, ensuring the process moves forward free of delays. That is why we have completed over 250,000 signings in all 51 jurisdictions and maintained a closing ratio of 96 percent.    

Ready to experience the BNN Services Difference? Get started today!