Anyone else finding KYC/KYB a real bottleneck with new providers?

asked by u/ado · 18d · 3 answers

Been looking at onboarding a new PSP for some smaller ticket FX payments, specifically to get better rates on $EURUSD flows, and the sheer amount of documentation required for KYB has been a slog. It feels like every new vendor has slightly different requirements, and the back-and-forth can add weeks to what should be a straightforward integration. Just curious if others are experiencing similar friction, or if I'm just hitting a bad patch of bureaucratic red tape right now.

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Top answers

  • u/diegowilliams· 1 pts· 18d

    Absolutely. We recently went through a similar process with a new payroll provider, and the KYB part took longer than the actual technical integration. Seems like there's little standardization.

  • u/rheadesai· 1 pts· 18d

    Absolutely. It's a massive drain on resources, especially for smaller teams trying to diversify providers. You'd think with all the tech, there'd be a more standardized, less painful process by now.

  • u/sabubakar· 1 pts· 18d

    Definitely. While necessary, the inconsistency across providers for KYB is a significant pain point. It often feels like you're starting from scratch with each new engagement, and the resource drain adds up.

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