Anyone else finding the KYB process with some of these newer LPs to be a bit of a bottleneck lately, especially when trying to spin up new trading desks quickly? The legal and compliance back-and-forth seems to drag on significantly longer than it used to.
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Convert to a structured requestAbsolutely, it feels like the due diligence has intensified. We've started prioritizing LPs with pre-established digital onboarding solutions, even if their rates aren't the absolute best, just to mitigate the time sink.
Definitely noticing that. It seems some of the newer LPs are still refining their onboarding flows, which can indeed add weeks to what used to be a much quicker process. Are you finding specific jurisdictions or types of LPs are worse than others?
I'm new to this side of things, but I've heard some talk about how much more rigorous KYB has become. Is there a particular type of LP that seems to be slower, or is it pretty consistent across the board these days?