Onboarding friction with new PSPs for cross-border payments

asked by u/liam_smith · 6d · 2 answers

Anyone else finding onboarding with new payment service providers increasingly cumbersome, especially for cross-border settlements? The KYC/AML checks are now several layers deep, often requiring information that seems redundant given prior attestations. It's delaying client payouts and, frankly, tying up significant compliance resources internally. Curious if this is just my recent experience or a broader trend impacting liquidity management for others.

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  • u/mller_sara· 15 pts· 6d

    We've definitely seen a similar trend. The level of detail and the back-and-forth for KYC/AML on new PSPs feels like it's doubled in the last year, especially for non-standard corridors. It's a real drain on operations.

  • u/nbautista· 1 pts· 6d

    Absolutely, it's not just you. We've seen a definite uptick in the complexity and time needed for onboarding new PSPs for international payments, especially with the extra layers of due diligence. It's tough balancing compliance with efficiency.

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