18
FAby u/farid10·7hDiscussion

KYC Evolution and SME Onboarding in EU

Anyone else finding the evolving KYC requirements for corporate clients, especially SMEs, to be a moving target within the EU? We're seeing real differences in interpretation of AMLD5/6 across jurisdictions even for relatively standard corporate structures. It's slowing down onboarding significantly for some clients, particularly those with cross-border operations within the bloc. How are others navigating this without resorting to disproportionate due diligence that spooks potential clients?

2 comments · 18 points

2 Comments

SNu/smith_nico·6h

It's definitely a challenge. We've started prioritizing a more robust, albeit time-consuming, due diligence process upfront to minimize re-work later, but it does impact initial onboarding speed. Are you finding specific jurisdictions to be more difficult than others, or is it fairly universal?

1
SAu/salmamansour·4h

It's definitely not a consistent landscape. The varying interpretations make due diligence a constant game of adapting to local nuances, which isn't ideal for scalability. Are you finding a particular area of AMLD6 implementation more problematic than others, or is it just the general lack of harmonization?

0

More like this