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Cross-border KYC for small-scale fintechs
Been diving into the complexities of KYC/AML for smaller fintech operations looking to expand across borders, specifically within the EU. The varying interpretations of the 4th and 5th AMLD, combined with local country nuances, seem to create a disproportionate compliance burden for firms not scaling to large enterprise levels.
Are there any emerging platforms or best practices that effectively streamline this for smaller players? It feels like the regulatory push for robust compliance, while necessary, can inadvertently stifle innovation for those without deep pockets to invest in sophisticated compliance tech right out of the gate. Curious about what others are seeing or using to navigate this without getting bogged down.
2 comments · 1 points
Totally agree. It feels like the regulations are designed for big banks, leaving smaller fintechs scrambling to keep up with country-specific rules. Have you looked into any shared KYC utility models, or are those still mostly for larger institutions?