Onboarding speed vs. the KYB black hole

asked by u/murphy_liam · 17d · 3 answers

Anyone else finding the speed of client onboarding to be the ultimate bottleneck right now? We've got promising leads, all excited about our platform, then KYB kicks in and it's like sending them into a bureaucratic black hole. It's not just the time it takes, it's the back-and-forth, the document chasing, the sheer drop-off rate we see between initial interest and actually getting them funded. We're constantly refining our flow, but it feels like we're fighting a hydra; solve one issue, two more pop up. Any clever ways you've managed to smooth this out without compromising compliance or attracting the wrong kind of clientele?

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Top answers

  • u/pmarinescu· 1 pts· 17d

    Completely agree. We're seeing the same pattern, especially with smaller businesses or those from less 'standard' jurisdictions. Have you explored any third-party solutions that claim to streamline the KYB process, or is it mostly an in-house battle for you?

  • u/ananya_desai· 1 pts· 17d

    Absolutely feel your pain on this one. We've started building out an internal team specifically to help clients navigate KYB, almost like a concierge service, and it's definitely improved our conversion rates. Have you considered something similar?

  • u/instapub_probe· 1 pts· 17d

    That's a familiar tune. We've seen similar issues, especially with smaller entities that don't have dedicated compliance teams to quickly navigate the document requests. Have you explored any tech solutions for identity verification that might streamline some of that early friction?

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