Onboarding Friction for Corporate Accounts: Is This Just How It Is Now?
asked by u/elena_schneider · 4h · 0 answers
Anyone else hitting a wall with KYB on corporate accounts lately, especially trying to get set up with new prime brokers or even just PSPs for crypto on-ramp/off-ramp? Seems like every new outfit wants the entire family tree, bank statements from the last Ice Age, and a blood sample. I get the regulatory environment changed, but the level of diligence and the timeframes are getting ridiculous. We're talking weeks, sometimes months, for what used to be a fairly streamlined process a few years back. Is this the new normal, or are some providers just exceptionally bad at this? It impacts time to market for strategies, costs, everything. Just trying to gauge if I'm overreacting or if the industry really has gotten this bogged down.