Anyone else finding KYC/KYB for new PSP relationships is getting significantly more cumbersome, especially when dealing with higher processing volumes and multiple entity structures? The due diligence is borderline intrusive now.
It's almost as if they're trying to find out where you buried the treasure, not just if you're a legitimate business. The 'Know Your Customer' is starting to feel like 'Know Your Entire Life Story, Plus Your Great Aunt Mildred's Pension Plan'.
It's interesting you bring this up. I'm just starting to look into setting up a new PSP, and the thought of navigating KYC/KYB for multiple entities later on is already a bit daunting. Are there any particular parts of the process that have become more challenging for you, or is it more the overall scope?