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DRby u/diego_r·2dDiscussion

KYB/Onboarding Friction with European PSPs

Hey everyone, wondering if anyone else is running into increased friction with Know Your Business (KYB) and onboarding processes lately, specifically with European payment service providers. We're trying to integrate a new PSP for our EU clients to diversify our payment options beyond the usual suspects and the level of scrutiny and documentation requests has been pretty intense. It feels like every other week there's a new demand for some obscure corporate document or a verification call that goes nowhere. Our setup isn't particularly complex, small-to-medium enterprise, well-established history, good standing. We had a similar experience with a prop firm earlier this year when trying to scale out our $EURUSD systematic trading book, where the paperwork to get decent leverage and a proper account setup felt like pulling teeth. It's understandable they need to do their due diligence, especially with increased regulatory oversight, but it's becoming a significant time sink. Are certain regions or types of providers just inherently more cumbersome right now, or is this becoming the new normal across the board? Any insights on how to streamline this without throwing more bodies at it would be appreciated.

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