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20 September, 2019

KYC challenge gets assistance from e4’s new SearchWorks innovation

Eleven years since its initial launch of SearchWorks, fintech company, e4, says that the web-based search application service has continued to prove itself as a vital administrative tool. As a key service to professionals across a multitude of industry sectors, e4 has launched an additional two new search types, specifically medical and insurance, as well as announcing SearchWorks Plus, a single input and output search facility that encompasses all 130 single search types in one.

Shaun Viljoen, senior business analyst, e4 says that the innovation within the SearchWorks platform is a constant: “The fintech space needs to constantly evolve due to increasing financial fraud and identity theft. Know Your Customer (KYC) has become a significant priority for all businesses and our work within SearchWorks is aimed at making this process less laborious, more successful, as well as efficient and easy to do.”

He says that SearchWorks and its newly added SearchWorks Plus solution will also assist with the onboarding of new clients. The medical and insurance products will expand the reach of the tool, offering these professional sectors the benefit of identity verification, updated contact details, credit profiles, bank account verification, income predictors, letters of demand and default listings: “These benefits apply to both sectors, however insurance companies can also search for property and vehicle valuations, trace and contact data, credit checks and social media checks.”

Viljoen says that the ability to harness all available search types in one is what separates SearchWorks Plus: “By providing a service via one search type we offer one input, one output and one result. It reduces time spent on performing various amounts of searches and inputs, which can now be performed via one input and output screen.”

The requirement for KYC is only going to continue with regulation playing an important role in overall compliance. Innovation within the fintech space is vital to assist businesses to safeguard themselves against growing criminal offenses and to better understand customers and their behaviour.

“We have another exciting project in this space and look forward to extending the role SearchWorks plays today,” says Viljoen.