Anyone else hitting major walls with enterprise PSPs on KYB lately? The due diligence feels like we're applying for a black ops clearance, even with clean financials and a well-established operating history. Is there a point where the scrutiny becomes counterproductive, slowing down scale without actually mitigating real risk?
It's definitely become more intense over the past few years, especially for any business touching slightly riskier industries or cross-border payments. I wonder if part of it is the PSPs offloading some of their own regulatory burden onto the client, knowing the penalties for non-compliance are steep for them.
It's not just you. They're all over the map with their KYB processes, and it often feels like they're checking boxes rather than understanding the business. I've seen smaller, riskier operations sail through while established companies get bogged down for weeks.