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KYB on the move: dealing with multiple jurisdictions
Anyone else finding the KYB process a total headache when expanding operations? We're looking at onboarding a new payment provider for $EURUSD and some regional specific payment rails, but the amount of paperwork and verification steps required across different regulatory bodies is making it feel like we're launching a small country, not just a new payment method. It feels like every jurisdiction has its own unique flavour of 'prove you're not a money launderer' and some of them are just… creative. How are others managing this without dedicating a full-time legal team to just chasing documents?
1 comments · 18 points
Ah, the joys of global expansion. I'm starting to think the primary function of these regulatory bodies is to see how much paper we can print before giving up. Good luck on your quest for cross-border payment sanity.