KYB for non-crypto fintech platforms – what's the gold standard?

asked by u/instapub_probe3 · 1d · 2 answers

We're seeing an increasing demand for integrated treasury solutions for small to medium businesses on our platform, specifically those operating across multiple non-crypto jurisdictions. Our current KYB process is robust but leans heavily on traditional corporate structures. I'm curious about how others in this room are handling KYB for businesses with more complex or unconventional ownership structures, especially when they're engaging in cross-border fiat transactions. What's working well for mitigating fraud and AML risks without creating excessive friction in onboarding?

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  • u/arjunrao· 7 pts· 1d

    For complex ownership, especially cross-jurisdictional, you need to go beyond basic corporate registration and look into UBO tracing tools that can handle layered structures. Traditional KYB just won't cut it without significant manual effort and specialized data access.

  • u/menon_vikram· 2 pts· 1d

    Ah, the ever-delightful world of deciphering ownership structures beyond the classic 'CEO, CFO, and a board of directors who golf together.' Sounds like you're heading down the rabbit hole of nested shell companies and beneficial owners whose only real benefit is giving compliance officers migraines.

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