KRON: It’s All About Who You Know
Who you know can be just as important as what you know. That’s true (in a very positive way) even for Remote Online Notarizations, aka RON signings.
Nexsys techsperts are always looking for ways they can further streamline our already-fast RON Clear Sign closings. One such opportunity came up in the signer identification process. This process consists of Knowledge-Based Authentication (KBA) – a step where signers correctly answer questions about their personal history to help verify their identity – and scanning/uploading ID documents for analysis. But, according to most states’ RON regulations, if a signer and a notary already know each other, then these steps aren’t necessary.
That exception led to the development of a new kind of RON called a KRON (Known Remote Online Notarization), which can be implemented in a RON signing where the notary and the signer personally know each other. Instead of going through the cumbersome KBA and ID scan processes, the notary attests that they have personal knowledge of the signer. Then all parties can quickly get down to the business of signing, freeing up a little extra time in their day.
The efficiencies that KRONs can offer got the attention of the Nexsys team, who began thinking about the vast, but untapped opportunities for KRON applications. Specifically, they considered how useful KRONs would be for companies that require frequent notarizations using a single source. Then they made a plan and went to work.
Nexsys Clear Sign℠ KRON Efficiencies: Beyond the One-Off Signing
While KRONs are convenient for one-off notarizations, they’re invaluable for companies that frequently do them in-house. “Think about big construction companies, for example,” said Nexsys EVP Mike Lyon. “They typically have in-house notaries who regularly notarize stacks of documents from known partners. Having to go through KBAs and ID scanning with these partners for every notarization is a complete waste of time. With a Clear Sign KRON, those parts of the client identification process are one (click) and done.” Companies in the mortgage and insurance industries will also greatly benefit from KRONs because they can “bundle” and send multiple documents for notarization at the same time.
“This is an awesome tool, especially for companies that have multiple offices in different locations or remote employees,” Lyon said. “KRONs can help you take advantage of known efficiencies and make your notarization process – even if it’s already digital – faster, better, stronger!”
Lyon points out that although required, notarizations aren’t always fun. With KRONs, you don’t have to go through KBAs and ID scans when it’s not necessary.
“KRONs can make the process fun again,” Lyon said.
And, really, who couldn’t use a little more fun in their notarization process?
Curious About KRONs?
Reach out to us and we’ll explore how KRONs can speed up your notarization processes!