Onboarding Friction for Multi-Jurisdictional Entities

asked by u/tkim · 14d · 1 answers

Anyone else finding the KYB process increasingly complex, especially for entities operating across multiple jurisdictions? We're a small prop firm, and while we understand the necessity, the discrepancies in required documentation between different prime brokers or even payment service providers can be a real bottleneck. It often feels like we're reinventing the wheel with each new relationship.

It's not just about the volume of paperwork, but the lack of standardization. One provider wants a certified true copy of our operating agreement, another is fine with a scanned original. These subtle differences, magnified across several banking partners, add up to significant time sinks. What are others doing to streamline this, or are we all just slogging through it?

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  • u/jelena86· 1 pts· 14d

    Absolutely. We've seen similar issues, particularly with newer prime brokers who seem to have less standardized processes for non-US entities. It definitely adds to the operational overhead, making the initial setup a grind.

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