Remote notarization delivers branch transformation

It's no surprise that bank branches have had to make adjustments due to constantly changing circumstances. Whether that be because of COVID-19 closures, labor shortages or changing consumer expectations, banks have had to look for other solutions to allow their services to be done virtually whether online or at an ITM. One such service is remote notarization, a tool that banks can use to notarize documents online.

One company, Popi/o, recently revealed its POPnotary solution to allow both the document signer and the bank or credit union to electronically notarize a document through collaborative video. It also taps into Popi/o's POPverify platform for ID validation and knowledge-based authentication to confirm the user's identity via video.

To learn more about this platform and what it means for overall banking trends, ATM Marketplace spoke with Ryanne Mayers, director of product for Popi/o, by email.

Q. What are the basic features of POPnotary?

A. POPnotary includes: POPverify, our identity proofing solution, for ID validation and knowledge-based authentication (KBA); audio and video recording; notary e-journal, and document audit history; as well as the ability to notarize electronic documents remotely online.

Q. How does it work with your other solutions?

A. POPnotary is fully integrated within the Popi/o Digital Customer Engagement platform and can be used in conjunction with all Popi/o tools and features.

Q. What do you see as its primary benefits for customers/FIs?

A. POPnotary enables Financial Institutions to leverage centrally located notaries to service all of their members/customers, wherever they are in the world. Staffing has been and will continue to be a significant challenge in business. Financial institutions have suffered tremendously due to the pandemic, which required them to pivot in order to meet their consumers' expectations and remain competitive. The ability to consolidate staff, to do more with fewer resources, is critical to the success of the FI, and empowers them to still be able to provide the services that members and customers have come to expect. Whether the pressing need is delivered in branch or through a digital channel of their choosing, it makes no difference.

Q. Do you see this as part of a larger trend of branches transforming or performing more tasks remotely?

A. Absolutely! The transformation of the branch to include digital service options is here to stay. The Popi/o digital customer engagement platform, and POPnotary, increase accessibility to serve all people and meet them where they are and at their moments of need.