Onboarding Friction for OTC Desks and Payment Providers

Anyone else finding the onboarding process for new OTC desks or even just payment solution providers increasingly… theatrical? It seems like every other application now involves jumping through more hoops than a circus poodle. The requests for KYC/KYB documentation are one thing, perfectly understandable for compliance. But then you get into the second and third rounds of 'clarifications' that feel less like due diligence and more like an attempt to see how much patience you possess.

We've recently been trying to diversify our payment rails for a few niche markets, specifically those involving higher-volume crypto settlements that bypass traditional banking for speed. The amount of back-and-forth, often with conflicting information from different reps within the same institution, is astounding. It’s almost as if the right hand doesn't know what the left hand is doing, or they're purposely trying to make it so difficult that only the most determined (or desperate) make it through. This isn't about specific spreads or payout reliability yet, but just getting to the point where you can even test those parameters is a significant time sink. Curious if this is just our experience, or if others are seeing similar levels of onboarding friction, especially in the more innovative payment spaces.