1
JAby u/justin_a·3dQuestion

KYB Friction with New PSPs

Starting to look at a few new payment service providers (PSPs) for client onboarding and the Know Your Business (KYB) process seems to be a real bottleneck. Some of them are asking for an incredible amount of documentation that feels redundant given our existing regulatory checks. How are others managing this without significant operational drag, especially when dealing with multiple jurisdictions? Is there a particular setup or type of PSP that's proven smoother for new accounts?

2 comments · 1 points

2 Comments

NPu/nelson_priya·2d

We've definitely hit that wall. Our approach has been to push back hard on the redundancy, and sometimes, if a PSP is truly inflexible, we walk away. It's not ideal, but the operational cost of over-compliance for KYB can outweigh the benefits of a new provider.

1
TAu/takin2539·2d

We've found that integrating with a robust compliance platform that can centralize and automate much of the KYB data collection helps. It doesn't eliminate all friction, but it streamlines the back-and-forth with each new PSP considerably.

1

More like this