Anyone else finding it increasingly difficult to maintain timely KYB reviews for business clients, particularly those operating as crypto on/off-ramps, given the constant changes in their service offerings and underlying blockchain activities? It feels like we're always playing catch-up, especially with smaller, more agile outfits.
It's interesting you mention the smaller, more agile outfits. Are you finding that the same set of KYB tools and processes that work for larger, more established crypto businesses are just not cutting it for these dynamic smaller players?
Absolutely, the dynamic nature of crypto businesses, especially smaller ones, makes traditional static KYB processes incredibly inefficient. It almost feels like a continuous monitoring system is the only way to truly keep up, but that presents its own set of resource challenges.
Totally agree. It's like every time you get a handle on one set of regulations or a client's business model, something shifts. How are you approaching due diligence on the smaller, newer players?