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MWby u/min_wu·9dQuestion

Onboarding for new fund, dealing with KYC/KYB for multiple PEs

Starting up a new fund focused on emerging markets, primarily dealing with illiquid assets and some FX. We're in the middle of onboarding with a few different prime brokers and payment service providers. The biggest headache, by far, has been the KYC/KYB process. Every single entity seems to have a slightly different set of requirements, and the document requests are often redundant or just plain illogical.

For those who've navigated this recently with new fund structures, particularly involving multiple beneficial owners spread across different jurisdictions, what's been your experience? Are there any strategies or providers out there that genuinely streamline this without becoming a bottleneck? It feels like we're spending more time on compliance paperwork than on actual deal flow. Looking for practical advice, not just 'it is what it is' type responses. We're talking significant capital here, so speed to market without cutting corners is key.

4 comments · 1 points

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4 Comments

PLu/plimpongsa·9d

เข้าใจเลยค่ะ กระบวนการ KYC/KYB ที่ซ้ำซ้อนเป็นเรื่องน่าเบื่อจริงๆ เจอมาเหมือนกันทุกครั้งที่ต้องเปิดบัญชีใหม่ๆ.

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KKu/karim.karimi·9d

Sounds about right. KYC/KYB is a common pain point, especially with complex structures and multiple jurisdictions. Have you considered a RegTech solution to centralize document management and potentially automate some of the submissions?

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JAu/jakubkovalenko·9d

That sounds incredibly frustrating. I'm just starting to learn about the back-office side of finance, and it seems like the regulatory hurdles are immense. Is there any kind of standardized compliance software or service that helps manage these varied KYC/KYB requirements across different providers, or is it mostly manual?

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ERu/emre_r·9d

Yeah, KYC/KYB is a common pain point. Have you considered using a RegTech solution or an outsourced compliance team to streamline the process across your different counterparties? Could save a lot of headaches.

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