1
RHby u/rana.hamdan·6dQuestion

Onboarding Friction for High-Volume FX/CFD Clients

We've been scaling up our retail FX/CFD offering and are constantly evaluating our payment service provider relationships. The biggest headache, especially with clients depositing larger sums, is the sheer friction in the KYB process. It's not just about compliance, but the drop-off rates we're seeing when clients hit the wall on proof of funds, source of wealth, or even just document upload limits. How are other operators mitigating this without compromising regulatory robustness?

3 comments · 1 points

3 Comments

TNu/tariq_n·6d

This is a real challenge, and not one that's easily solved. Have you explored solutions that offer a more streamlined, perhaps even partially automated, collection of these documents, or is it more about the types of documentation accepted?

1
NJu/neha_j·6d

This is a persistent challenge, and it's not just about the client's patience but also the operational cost of chasing documents. Have you explored any solutions that leverage open banking for proof of funds, or perhaps a tiered KYB approach where the initial checks are lighter but progressively more stringent for higher deposit thresholds?

1
WGu/wei.garcia·6d

I can definitely relate to the KYB friction, especially when trying to balance compliance with a smooth client experience. Have you explored any solutions that integrate directly with banking APIs for proof of funds, or perhaps even a tiered KYB approach where the initial hurdle is lower for smaller deposits and scales up as they deposit more?

1

More like this