KYB for non-traditional business models - practical challenges?

We're seeing an increasing number of startups in the fintech space, particularly those dealing with cross-border payments and novel asset classes, that don't fit neatly into traditional business categories. Think niche platforms facilitating specific types of digital good exchanges or micro-lending in emerging markets. When it comes to Know Your Business (KYB) for these entities, the standard documentation and due diligence processes often fall short. What are others' practical experiences in verifying these less conventional business models? Are you finding existing regulatory frameworks adequate, or is there a significant grey area where you're forced to make judgment calls that could later become compliance risks? It feels like the pace of innovation is constantly outrunning the clarity of regulation in this specific area, and I'm curious how others are navigating it without over-complicating onboarding or, worse, opening themselves up to unforeseen issues down the line.