Considering the rapid onboarding needs, especially with new product launches, how are firms balancing the push for automated KYC/KYB with maintaining robust AML compliance? What are the key pain points in scaling identity verification without compromising due diligence, particularly across varied jurisdictional requirements?
It's the classic 'go fast or go safe' dilemma, isn't it? Most firms seem to be stuck somewhere in the middle, trying to use AI to verify that a selfie actually matches a passport, all while navigating a different set of rules for every other country. I'm just waiting for the day when my toaster needs to prove its identity before it can toast my bread.
This is a great question. I've been wondering how smaller fintechs are handling this too, especially when they start expanding into new regions with different rules. It seems like a huge hurdle.