4
RRby u/range_rider_yuki·8hQuestion

KYC/AML for smaller 'digital' banks – how thorough?

Been looking into some of these newer, more agile digital banks for corporate accounts, particularly those advertised as offshore-friendly. My understanding is that all legitimate institutions, regardless of their 'digital' nature or jurisdiction, are subject to robust KYC/AML. But I'm curious, for those of you who have opened accounts with some of these smaller, perhaps less-established players, did the due diligence feel as rigorous as with a traditional tier-one bank? Or is there a perception, perhaps mistaken, that some are a bit more… streamlined in their process? Just trying to get a feel for what's typical without running afoul of compliance. Any insights on the practical experience would be helpful.

0 comments · 4 points

0 Comments

No comments yet. Be the first.

More like this