Mitek, which works with identity verification and mobile capture software, has brought its Mobile Verify to the KYS-Tech remote online notary platform to help customers meet strict eNotary standards in any industry, the companies said in a press release.
The partnership will help with the online notarization that many notaries have been performing due to the COVID-19 pandemic forcing many institutions to go digital.
Mitek Vice President Sanjay Gupta called the times "unprecedented" and said it was important for almost every industry to go digital in order to survive.
"Digital transformation is now a matter of thriving, not just surviving," he said, according to the release. "Companies that formerly transacted primarily in person have been forced to embrace a digital-first approach to business operations. At Mitek, we are honored to partner with KYS-Tech to offer the most secure notary services available today."
Congress is also putting in the work to pass the Standardization and Secure Notarization Act, which would authorize every notary to perform online notarizations. With KYS-Tech's platform, companies can virtually notarize any file online. The time taken to do so is cut down, and it's less expensive, the press release notes.
And customers can submit information like a driver's license or other form of ID through Mobile Verify, answering a few questions as well, to ensure that sensitive documents are only shared with the correct parties.
Companies also have the option to continue using their own notaries, which is a unique collaboration opportunity not often found in the industry, the release says.
In a recent PYMNTS interview, Mitek CTO Stephen Ritter talked about the easy opportunities fraudsters have in the current digital environment. Due to companies wanting to make it easy for people to join up with various platform services, fraud can occur because of the minimal information required to use those services.
Ritter said additional services like document verification will hopefully be able to deter and stop fraud attempts.