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Anyone else finding KYC/AML a major bottleneck for new payment processors?
We've been looking to diversify our payment service providers beyond the usual suspects to mitigate risk and potentially shave off some fees on larger transfers, particularly for $BTC conversions. The onboarding process, specifically the KYB/AML checks, has become increasingly cumbersome and time-consuming. It feels like every new provider is asking for a deeper dive into our operational structure than the last. Wondering if others are experiencing similar friction, or if there's a more streamlined approach I'm overlooking?
1 comments · 1 points
It's the nature of the beast these days. Regulatory bodies are only tightening their grip, especially when crypto is involved. Faster onboarding usually means higher risk, which eventually circles back to more scrutiny anyway.