Notary Services — Out With The Seal, In With The ID Tech

Old-school practices are getting a security upgrade. From protecting large crowds of sports fans at the 2020 Olympics to making sure the person signing on the dotted line of an official document is really who they say they are, modern, tech-fueled authentication solutions are taking center stage to address a host of different identify verification needs.

In the January Digital Identity Tracker™, PYMNTS looks at the various venues where authentication solutions are being put to work — and some of the most notable tools that are gaining more mainstream acceptance.

Around the Digital Identity World

Facial recognition tools will be put to the test when athletes from around the globe gather in Tokyo for the 2020 Summer Olympics.

Information technology company the NEC Corporation will be deploying its facial recognition technology at the Olympic and Paralympic Games to make it easier for athletes, journalists and officials to access Olympic venues — and more difficult for imposters to do the same. Authorized attendees will also be given photo IDs, and attendees’ faces will be checked against registered photos in an effort to ensure that ID holders are who they claim to be and not passable lookalikes.

But as the Olympics unfold in Japan, another type of biometric technology is positioned to establish itself as a mainstream player. Japanese payment firm JCP Co. recently announced plans to test a biometric offering that reads palm prints and vein patterns. The solution relies on both palm and vein patterns and yields a false acceptance rate of just one in 100 billion, according to a news release announcing the test.

Meanwhile, one of the most popular social media platforms is hoping to use similar technology to put the “face” back in its namesake.

Social media giant Facebook also recently launched its own facial recognition solution, designed to help users monitor how their images and visages are being used. The platform’s new facial recognition program notifies a user when a photo of them has been uploaded, regardless of whether they were “tagged” or not. Users can then tag themselves, ignore the photo or report it if they feel uncomfortable with how it’s being used.

A Stamp of Approval for Innovation 

Whether it’s consumers or businesses, getting legal documents processed and verified means finding a live notary professional who can stamp documents and make records in their ledger.

In other words, the notary process continues to be a frustratingly outdated and time-consuming endeavor that still relies on ink and rubber stamps. But change could be on the way.

Today, the market appears to be open to embracing newer electronic signature technologies. But according to Darcy Mayer, executive vice president of electronic signature solution company DocVerify, challenges still impede broader adoption.

For the January feature story, PYMNTS spoke with Mayer about the changing state of the notary market and the “chicken or the egg” dilemma that prevents more widespread usage.

To read the feature story, plus the latest Digital Identity headlines and see rankings of 147 major providers, fill out the form below:

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    About The Tracker

    The Digital Identity Tracker™, powered by Socure, is a forum for framing and addressing key issues and trends facing the entities charged with efficiently and securely identifying and granting permission to individuals to access, purchase, transact or otherwise confirm their identities.