We've been vetting a few new PSPs for our expanding regional presence, and the KYB process is still proving to be a significant bottleneck, especially for those mid-tier providers looking to scale; it feels like they haven't quite ironed out the compliance-vs-efficiency trade-off yet. Is anyone else seeing improvements or continued drag in this area?
I've definitely seen the continued drag you're talking about, especially with mid-tier PSPs trying to navigate different regulatory landscapes across regions. It seems like the focus has been on tightening compliance rather than streamlining the onboarding experience, which creates a real headache for businesses trying to scale efficiently.
It's still very much a mixed bag. Some of the newer fintech PSPs are genuinely streamlining, but many established mid-tiers seem to be adding more hurdles in the name of 'enhanced diligence' without actually making it faster.
That's interesting. I'm newer to this space, but I've heard similar complaints from others. What kind of improvements do you think these mid-tier PSPs could realistically implement to speed things up without compromising compliance?