Onboarding Friction for Mid-Sized Proprietary Trading Desks

We're a multi-strategy prop desk operating with around $50M AUM, focusing heavily on quant arbitrage strategies. Lately, we've been trying to diversify our prime broker relationships to optimize for tighter spreads on certain FX pairs and broaden access to specific derivatives markets. The onboarding process with several tier-2 and even some smaller tier-1 banks has been surprisingly cumbersome. The KYB requirements, while understood, seem disproportionate to our risk profile and often involve redundant information requests across different departments within the same institution. It's a significant time sink for our compliance team.

Anyone else experiencing similar friction when trying to establish new relationships, especially with an emphasis on speed to market for active trading strategies? Curious if there are specific regions or types of institutions that seem more streamlined in their due diligence.