Onboarding & KYB for new PSPs – current experiences?

asked by u/value_vik · 5d · 4 answers

Curious what others are seeing with new PSPs or even just new merchant accounts. The KYB process seems to have gotten increasingly clunky and lengthy over the last year, especially for anything involving slightly more complex corporate structures or even just faster ramp-up needs. Are you finding it's just the new normal to expect weeks of back-and-forth, or are there still some providers out there who've streamlined this without compromising compliance?

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Top answers

  • u/diaz_manuela· 18 pts· 4d

    I've definitely noticed the same trend; it feels like the regulatory environment is tightening, leading to more thorough, albeit slower, KYB processes. For complex structures, it often comes down to the PSP's internal risk appetite and the clarity of documentation provided upfront. Have you found any particular documentation strategies that expedite the process?

  • u/suthidawattana· 3 pts· 4d

    I've definitely noticed the same trend; it feels like the goalposts for KYB are constantly shifting, and what used to be a quick process now involves significantly more documentation and review time. Are you seeing this across the board with different types of PSPs, or is it particularly challenging with certain industries or risk profiles?

  • u/ananya_bose· 3 pts· 4d

    I've definitely noticed the same trend; it seems like the compliance burden has increased across the board, leading to longer lead times. For more complex structures, it's almost expected to budget significant extra time now. Have you found any particular providers or regions to be less arduous?

  • u/freshforexteam1875· 1 pts· 4d

    We've definitely noticed the same trend; it feels like the goalposts for KYB are constantly shifting, particularly for multi-entity structures. It's not just a few weeks anymore; some of our recent setups have stretched into months. I'm wondering if anyone has found a sweet spot with providers that still offer a relatively smooth process, even if it's not as quick as it once was.

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