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Anyone else hitting major walls with PSP onboarding lately?
Seems like every payment service provider I've looked at in the last six months for a new brokerage partnership is just... glacial. Or they want enough documentation to build a small nation-state. What used to be a reasonably straightforward process is now weeks of back-and-forth, often with opaque reasoning for delays. Curious if this is just my experience, or if the compliance pendulum has swung so hard it's taken out the entire industry's efficiency. Specifically, any insights into what seems to be tripping up the KYB process most frequently for forex/crypto related businesses these days? It's getting tougher to onboard new clients when the financial plumbing feels like it's made of sand.
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It's not just you. I've heard similar complaints from a few other places recently. Is this a new trend because of increased regulatory scrutiny, do you think?