Zynyo facilitates digital transformation of Dutch housing market
As a result of COVID-19, the work of real estate agents was hampered. The Dutch Association of Estate Agents and Valuers(NVM) wanted to help its members and set up a task force in March 2020 to enable home sales contracts to be signed digitally. The NVM approached ZYNYO to contribute its digital signing platform to the task force.
For the NVM, there were several challenges. First, there was an organizational challenge: the huge volume of contracts now had to be processed by the NVM, whereas previously this was done by employees at the brokerage office. In addition, other parties in the housing sales chain, such as notaries and mortgage lenders, also had to accept these digitally signed contracts.
All documents and data from brokers, sellers and buyers are sent to the task force. Some brokers use NVM's CRM system(Realworks) or NVM's online member portal for this purpose. The task force can easily copy the required information into ZYNYO's DTM (Document Transaction Management) application to send the signature request.
This application supports collaboration among colleagues in sending, monitoring and processing signature requests. Some contracts require signatures from buyers, sellers and brokers, and this now happens at lightning speed thanks to the digital process. To ensure the identity of signatories, the Royal Notarial Society(KNB) states that bank iDIN authentication is sufficient in this situation. ZYNYO is accredited by the banking association Currence to offer iDIN as an authentication tool to its customers. Attached to the signed document is a deed with the audit trail of all signing actions with the verified iDIN data (first name, last name, date of birth and address).
Although the COVID-19 measures have been lifted, demand for this NVM service has only increased, now helping many thousands of buyers and sellers each month. The task force has been incorporated into a new label of the NVM, called NVM Service Office, with the goal of developing more initiatives to unburden brokers in specific areas.
With ZYNYO, NVM has a reliable platform capable of processing many thousands of signature requests per month and allowing the team to maintain an overview of the progress of pending signature requests. If your organization also has challenges with paper signing processes or wants to save costs on administrative operations, don't hesitate to contact us for a consultation with a consultant.