Onboarding Friction for High-Volume FX/Crypto: Anyone cracked the code?
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We've been scaling up our retail-focused FX and crypto prop trading operation, and the KYC/AML drag on onboarding new brokers and payment service providers is just brutal. It feels like every new partnership takes months of back-and-forth, with each compliance department wanting a slightly different flavor of documentation. It's not just the time; it's the operational overhead of dedicating resources to essentially be professional form-fillers.
I'm curious if anyone has found a 'secret sauce' or a particular type of provider that's genuinely streamlined this process, especially for those of us dealing with higher transaction volumes and multiple jurisdictions. We're talking about standard, regulated entities, not anything exotic, but it still feels like navigating a labyrinth designed by Kafka. Thoughts?