Internal discussions within International Registries, Inc. and its affiliates (IRI) have led to a number of digital client-focused products and solutions over the last several years. Focused on connecting clients with solutions that meet the needs of the fast-paced modern world while also adhering to international governance and best practices, IRI’s Corporate Team is in a period of digital development. The team recently launched its first electronic Certificate of Good Standing, a digital and streamlined solution for clients worldwide.
“Clients are looking to optimize time and efficiency when forming business entities,” said Denise Francis, Senior Vice President, Corporate.
“In the past we’ve provided these certificates both in hard and soft copy,” said Tanya Lawson, Vice President, Corporate. “Since the pandemic, fewer and fewer clients want a hard copy, so we challenged ourselves to create a truly digital solution that would not only make the Certificate of Good Standing available electronically but also provide a way to digitally verify the certificate,” she continued.
The new electronic Certificate of Good Standing includes a QR Code for tracking purposes, which can be scanned by the receiving party to verify the authenticity of the certificate in real-time, and a unique tracking number that can be entered for validation through the website. Each electronic Certificate of Good Standing also comes with an apostille, furthering the authenticity of the certificate as an instrument for financial institutions, law firms, and other business sectors.
“The goal was to create a solution that gave clients increased access to their documents with less administrative back and forth,” said Tanya. “Many clients do not know that they need an apostille in advance, so providing it to them at the outset is a real time savings and empowers them to complete transactions quickly, accurately, and with verified documents.”
The electronic Certificate of Good Standing is the latest digital solution from the Corporate Team, which has focused on digitalizing and streamlining processes over the last decade. A digital portal for filing and submitting Economic Substance Regulations (ESR) Reports was launched in July 2020. The ESR Reporting Portal, which provided a simple and streamlined process for submitting ESR Reports, was widely adopted by clients in its first year, as was the E-billing platform which launched in 2015. Business entities registered in the RMI are also searchable through the website.
“We are seeing an increase in paperless orders,” said Denise. “Creating digital solutions is the way forward, and we are actively looking to create more digital solutions for the future,” she continued.
Led by Chief Commercial Officer Theo Xenakoudis, the Corporate Services Group (CSG) provides a full range of services from forming a business entity to issuing certificates and providing client support. The CSG meets annually to bring together the global corporate team and provide a platform for sharing information and ideas to enhance the client experience and reinforce the one team mentality across the 28 worldwide offices.
“Clients appreciate having support in local time and often in the local language, while recognizing that through our global network of offices we are able to provide service 24 hours a day, 7 days a week.”
As the RMI Corporate Registry continues to grow, it will continue to adapt to the needs of the global business community.
“We will see more digital solutions in the future, with an increased ability for clients to have immediate, real-time access to documents, information, and services they need online,” concluded Denise.
