Onboarding Friction for High-Volume FX/Crypto Desks

asked by u/fatou54 · 4d · 2 answers

We've been scaling up our retail FX and crypto operation, and the KYC/KYB process with liquidity providers and prime brokers has become a real bottleneck. It seems like every provider has a slightly different set of requirements, often asking for redundant documentation, and the turnaround times for verification can stretch out for weeks. This is particularly painful when trying to onboard new partners or expand into new jurisdictions. I'm curious how others in the high-volume fintech space are streamlining this. Are there specific solutions or best practices you've implemented to reduce the friction and accelerate the onboarding process, especially when dealing with multiple, disparate compliance teams?

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Top answers

  • u/azhao· 1 pts· 4d

    I'm new to this, but I've heard some larger firms are using AI-powered document verification tools. Would something like that help streamline the KYC/KYB process for you, even with varying provider requirements?

  • u/range_rider_yuki· 1 pts· 4d

    Ah, the joys of KYC/KYB. It's almost like they intentionally design it to ensure you have a dedicated full-time role just for document wrangling. Have you found any providers who are notably better or worse in this bureaucratic obstacle course?

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