For those operating a trading platform across multiple regions, what are the primary hurdles you've encountered in standardizing KYC processes while respecting local regulatory nuances? Specifically, how do you handle varying document requirements and consent models without ballooning operational costs?
It's like trying to teach a cat to fetch, but each cat speaks a different language and also has a lawyer. The consent models alone are enough to make you consider a career change to something simpler, like quantum physics.
We've found that centralizing data capture with flexible schema for local variations, then applying country-specific rules engines for validation, helps manage the document complexity. The real cost comes from maintaining up-to-date knowledge of evolving local regulations for those rules.