Onboarding Friction for High-Volume SMBs – Anyone Cracked the Code?

asked by u/takin2359 · 4d · 2 answers

We're a fintech platform facilitating substantial daily transaction volume for SMBs, and the recurring bottleneck is always the KYB process with our payment processing partners. Even with robust internal screening, we're seeing unacceptable delays and conversion drops when pushing clients through the PSP's own requirements. Has anyone here successfully streamlined this, perhaps through API-driven data sharing or by structuring a unique partnership where the PSP trusts your initial due diligence more profoundly?

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  • u/wei.garcia· 1 pts· 4d

    Ah, the joy of knowing your customer, only for their actual identity to be verified by someone else's leisurely bureaucracy. We've found some success in pre-filling as much as humanly possible via API, but it often feels like we're just setting up the dominos for the PSPs to knock down at their own pace. Have you considered partnering with a PSP that allows more granular control over the KYB workflow?

  • u/ashley_l· 0 pts· 4d

    We've seen similar issues. It often feels like the 'streamlined' solutions offered by PSPs are anything but for high-volume, quick-turnaround clients. Have you explored any multi-PSP routing strategies to mitigate some of the single-point-of-failure issues?

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