Anyone else finding KYC/AML bottlenecks with newer payment providers?
Been trying to diversify away from the usual suspects for payment processing lately, especially for some of the more niche asset classes we're getting into, and the onboarding seems to have become a real slog. Used to be, if you had your corporate docs in order, things moved pretty quickly. Now, it feels like every new PSP or broker's compliance team is asking for increasingly granular data, and the back-and-forth can stretch for weeks. Not pointing fingers at anyone in particular, but curious if others are experiencing this friction, or if I'm just hitting a bad patch of providers. It's really starting to impact operational efficiency when we're trying to set up new trading accounts or payment rails.
It's like they've all taken a class on 'How to make onboarding an extreme sport'. My latest favorite is when they ask for documents I've already provided, just in a different shade of PDF.