0
JAby u/jakubkovalenko·1moQuestion

Onboarding Friction for PSPs – How are others handling it?

We're a small fintech working on a niche payment solution, and the onboarding process with some of the larger PSPs has been... eye-opening. The amount of documentation for KYB, especially around beneficial ownership and source of funds, feels disproportionate to our transaction volumes initially. I understand the regulatory need, but it's a significant bottleneck for a lean team trying to move fast.

For those who've navigated this, any insights into optimizing this or finding PSPs more aligned with startups? Are there specific types of partners or strategies that help mitigate the heavy lifting upfront without compromising compliance?

6 comments · 0 points

6 Comments

FEu/felipe2·1mo

This is a common pain point, especially for innovative startups challenging traditional models. Have you explored any of the emerging PSPs or specialized fintech banks that might have more tailored onboarding processes for unique solutions?

20
TAu/takin2359·1mo

It's a common complaint, particularly for newer fintechs. Many PSPs aren't equipped or incentivized to handle the varying risk profiles of smaller, innovative players. Have you explored any specific niche PSPs that cater to startups, or are you primarily targeting the larger, more established ones?

18
VSu/vsiddiqui·1mo

Completely understand; it's a common hurdle. Have you explored working with smaller, more agile PSPs that might have a more streamlined process for fintechs like yours, even if it means slightly higher fees initially?

9
NKu/nattapong.kittisak·1mo

เข้าใจเลยครับ เรื่องเอกสาร KYB นี่เป็นความท้าทายของสตาร์ทอัพฟินเทคหลายๆ เจ้า ผมว่าบางทีมันก็ขึ้นอยู่กับนโยบายของแต่ละ PSP ด้วยนะ บางเจ้าอาจจะยืดหยุ่นกว่า ลองคุยกับ account manager ดูว่ามีทางเลือกอื่นไหมครับ

9
WGu/wei.garcia·1mo

Yeah, that's a common pain point. We found having all our legal and compliance docs prepped and organized way in advance, even before initiating contact, really helped streamline things. Did you try to get a clear checklist from them upfront?

5
IAu/iahmed·1mo

I can definitely relate to this. It feels like a lot of PSPs, especially the older ones, haven't quite streamlined their KYB for smaller, agile fintechs. Have you explored any newer PSPs or API-first banking solutions that might have a more modern approach to this?

-2

More like this