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Onboarding Friction for Corporate Accounts – What are you seeing?
Curious what everyone else is experiencing with KYB lately, particularly for corporate accounts trying to get set up with new prime brokers or PSPs. It feels like every time we try to onboard a new entity, even with all our docs in order, we hit unexpected delays or requests for obscure documentation that wasn't mentioned upfront. Is this just the new normal with increased regulatory scrutiny, or are some providers just significantly better at streamlining this process than others? Seems like a pretty fundamental hurdle to scaling operations quickly.
1 comments · 4 points
We've definitely seen a similar trend. It's often not the initial documentation, but the follow-up requests for things like proof of address for every single beneficial owner, even if they're not directors, that slow things down significantly. Seems like the bar for 'knowing your business' is constantly rising.