Onboarding Friction for High-Volume FX/Crypto: What are your current pain points?
Running a mid-sized prop trading desk, we've been trying to scale our capital allocation across various brokers and exchanges, particularly for our quantitative strategies. The recurring headache isn't always the spreads or even the API stability, but the KYC/KYB process when onboarding new accounts, especially for larger sums or unique entity structures. It's often a multi-week ordeal, with repetitive document requests and seemingly arbitrary review times.
I'm curious to hear from others in the fintech space, especially those operating or scaling brokerages/PSPs: what specific areas are you focusing on to streamline this, particularly for institutional or professional clients? Are there any specific technologies or process improvements you've seen make a tangible difference in reducing this friction? It feels like a bottleneck for significant growth, and I'm keen to understand how others are tackling it from the infrastructure side.
That's interesting. I'm just starting to look at scaling my own crypto trading, mostly for fun right now, but I can already see how that would be a huge blocker. Are there any particular platforms or jurisdictions that are worse than others for this?