Onboarding Friction with New PSPs
Anyone else finding the KYB process with newer payment service providers increasingly cumbersome for multi-entity structures? We're evaluating a few for expanding into new markets, and the information asymmetry, particularly around UBO declarations for tiered ownership, is creating significant delays. It's not just the volume of documentation, but often the lack of clarity on why certain documents are needed beyond the initial request. It feels like we're constantly pushing uphill to explain standard corporate structures, which then inevitably impacts our projected timeframes for liquidity access. Curious if this is becoming the norm, or if we're just hitting a string of particularly bureaucratic providers. The cost of this friction isn't just time; it's opportunity.
Definitely feel your pain on this. We've run into similar issues, especially with UBO declarations for complex structures. Have you tried asking for a pre-onboarding call to hash out the specific documentation requirements upfront? Sometimes that helps clarify the 'why' behind their requests.