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Onboarding Friction for B2B PSPs: Beyond KYC to KYB Realities
We've been scaling up our platform and recently had a particularly painful experience onboarding a new PSP partner. The standard KYC for individuals is a well-trodden path, but the KYB for entities, especially across different jurisdictions, felt unnecessarily convoluted. We're talking multiple rounds of documentation, inconsistent requests, and weeks of back-and-forth. It's not just the time sink, but the opportunity cost of delayed market access. Anyone else experiencing this, or found any PSPs that have genuinely streamlined their corporate onboarding processes without compromising compliance? What specific points of friction did you encounter and how did you overcome them?
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