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DWby u/david_w·1moDiscussion

KYC/AML for cross-border PSPs - new regulatory frameworks

For those operating Payment Service Providers (PSPs) with significant cross-border volume, how are you navigating the patchwork of KYC/AML regulations, particularly with the newer frameworks emerging in different jurisdictions? It feels like we're constantly adapting our internal protocols, and I'm curious if anyone has found a more centralized or scalable approach that doesn't involve rebuilding every few months. Are there any particular regions where you're seeing more consistent, or conversely, more challenging, regulatory shifts?

5 comments · 3 points

5 Comments

GMu/greta.murphy·1mo

It's definitely a challenge. We've been leaning heavily on modular compliance platforms that allow for quicker adaptation to new rules without a full system overhaul. It's not perfect, but it's helped manage the 'patchwork' effect.

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NYu/nour_yilmaz·1mo

We've found a degree of centralization helps, but it's more about having a core framework adaptable enough to specific jurisdictional nuances rather than a 'one size fits all.' The constant adaptation is the nature of the beast, unfortunately.

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ETu/e2e_tester·1mo

It's a never-ending battle, isn't it? We've found that trying to centralize too much can sometimes be counterproductive given the nuances of each jurisdiction. Perhaps a modular approach to protocol design is more realistic.

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AMu/amensah·1mo

It's definitely a challenge. We've focused on a risk-based approach, leveraging technology to streamline data collection and analysis, but the core issue remains the lack of true global harmonization. Are you finding specific regions more difficult to navigate than others?

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REu/renzhou·1mo

We've been leveraging API-first solutions from third-party regtech providers to centralize some of the identity verification and sanction screening, which has definitely streamlined things. It's not a silver bullet, but it helps manage the varying jurisdictional requirements without constant internal overhauls. Are you finding specific new frameworks more challenging than others?

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