FirmaVirtual

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City: Santiago

State: Region Metropolitana

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Country: Chile

Doing paperwork in person at the notary&s;s office costs us valuable time, wastes paper and exposes our physical and emotional health. FirmaVirtual allows us to sign, certify and notarize notarial documents 100% online, through a web platform that is reliable, secure and easy to use. This way we save time and money, protect the environment and take care of our health and quality of life. Problem: Chileans lose a total of more than 300 million hours a year doing notarial transactions, where 85% of them are grouped in no more than 17 types of procedures. This loss seriously affects companies that must constantly repeat these procedures, such as real estate companies, moving companies, lawyers, accountants and similar companies that must sign large volumes of contracts, mandates and safe conducts. Product/Market Fit: A secure, reliable and easy to use web platform where companies and individuals can sign and notarize all types of documents and procedures, with 24/7 operation. It has: • Client management module where signatories are added, participants and documents are authenticated with different security layers, hierarchical and assign payment responsibility. • Document management module: use of templates, monitoring the status of the process and their history. • Traffic light system: intelligent assignments to the notary with the shortest waiting time and best service score. • Automatic payment and invoicing system • Possibility of notary at home for procedures that require presence in person • Integrable through API and platforms such as Zapier • Processing ready in 24 hours from the last signature. Business Model: Selling prices are defined in four categories: 1. Documents with electronic signature: 2. Documents with electronic signature + notarial certification. 3. Documents with electronic signature + notarization 4. Documents with electronic signature + notarization at home These have a defined value if the client is a company (monthly value on the documents actually processed during the previous month) or if it is an individual (fixed value per document) and if there are one or more signatories. Target Market &a; Size: The main market targets real estate companies, moving companies, lawyers, accountants and HR and outsourcing companies that must sign and notarize a large number of contracts, safe conducts, mandates, powers of attorney, among others. This market exceeds 50 MM USD/year considering the mentioned items and current rates; in which there is a strong trend towards digitalization both for efficiency and for the risk involved in health to go in person. On the other hand, the use of Blockchain is gaining strength under the concept of digital security. The main barriers to entry are related to being able to issue electronic signatures, the perception of risk with respect to digital and the reluctance of some notary&s;s offices due to the perception of losing power in the current market. Technology Status: The development of a self-service platform for electronic signature and notarial certification and notarization has already been achieved, for this purpose the web application was developed with cloud servers, HTML5, CSS3, JQuery and React were used for the frontend; PHP and Slim were used for the backend, MySQL database design was used for the database design. The API documentation and security protocols were developed using web architecture based on api restful. The trademark registration is in process in Chile. Impact and Sustainability: We contribute to sustainability by digitizing processes that generate a lot of paper waste, which has allowed us to save 4 million liters of water and 40 trees. On the other hand, by avoiding the displacement of people to the notary&s;s offices, we have a positive impact by avoiding pollution produced by means of transportation. In addition, in the current context, this solution avoids displacements and agglomerations, thus preventing COVID-19 contagion and the exposure of vulnerable population to it. Finally, it has a relevant social impact in terms of inclusion and universal access to notary services since it integrates the population that does not have notary offices in their places of residence either because they are rural or because they have too few inhabitants to be considered as having one, considering that 94.5% of the population has access to at least one smartphone from which they could access the service.

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