What is Remote Online Notarization?
A REMOTE NOTARY is a legally commissioned notary public who is authorized to conduct notarizations over the internet via digital tools and a live audio/video camera.
One might ask, how can a person be identified if the notary is in a different place. The answer is that REMOTE NOTARIES have digital tools to assist them.
Knowledge Based Authentication is an identity authentication method that asks questions based on detailed information an individual knows. This information is usually more advanced than the kind of information a fraudster might be able to access through your email or computer. Knowledge Based Authentication is often used along with another type of authentication (such as a password) to increase security. There are two kinds of Knowledge Based Authentication — static and dynamic.
If you have ever needed to reset a password, you’ve probably encountered static knowledge-based authentication. With this method, you pick security questions and give answers that are stored and referenced later. The user controls the questions and answers with this type of knowledge- based authentication. Static KBA, also referred to as “shared secrets” or “shared secret questions”, is commonly used by banks, financial services companies, and e-mail providers to prove the identity of the customer before allowing account access, or as a fall back if the user forgets their password. At the point of initial contact with a customer, a business using static KBA must collect the information to be shared between the provider and customer, most commonly the question(s) and corresponding answer(s). This data must then be stored, only to be retrieved when the customer comes back to access the account.
Dynamic Knowledge Based Authentication takes authentication to the next level by generating questions that only apply to one specific person. This type of Knowledge Based Authentication does not require any previous relationship with the customer, so it is an attractive option for e-signature users that need to be authenticated instantly. We sometimes call these questions “out-of-wallet” questions because the information couldn’t be found in a person’s wallet if it was stolen. The questions are generated from the user’s credit history or public records.
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