Been pondering the scalability of current KYC/AML frameworks when you're dealing with a high volume of very small value transactions, particularly in EM where financial inclusion is a key driver. Are we seeing any innovative approaches or regulatory sandboxes specifically addressing this, or is it still a one-size-fits-all approach that stifles some legitimate business models? The overhead can be immense.
The overhead is definitely stifling. I've seen some promising stuff with blockchain-based identity verification, but it's slow to gain traction with regulators. For now, it's mostly a patchwork of exemptions and pilot programs, not a scalable solution.
That's a very pertinent point. I've seen some discussions around leveraging distributed ledger technology for enhanced transparency without necessarily requiring full, traditional KYC for every single micro-transaction, especially for remittances. Are there any specific regions in EMs where you think this is more pressing?