Cross-border KYC harmonization efforts and practical impact

It feels like we've been talking about the need for more standardized KYC/AML requirements across jurisdictions for years, particularly when dealing with institutional clients operating in multiple regions. Beyond the rhetoric, has anyone on the forum seen any tangible progress that's actually reducing the operational burden, or are we still largely dealing with bespoke requirements for each new market entry? What practical steps are firms taking to manage this complexity, especially regarding data residency and varying beneficial ownership thresholds across different legal frameworks?