It feels like every new PSP application is just getting bogged down in endless document requests and verification loops. Wondering if it's just me or if others are seeing increased friction there?
It's definitely not just you. The regulatory environment has tightened considerably, leading to more stringent requirements from most financial institutions. Are you seeing similar issues with established PSPs or primarily with newer, smaller ones?
Definitely not just you. We've seen a noticeable tightening of KYC/KYB requirements across the board, especially for newer PSPs, likely due to increased regulatory scrutiny and a focus on AML compliance.
Definitely not just you. I've had multiple applications stuck for weeks waiting on verification. Seems like a systemic issue right now.
Definitely not just you. The regulatory screws are tightening, and PSPs are overcompensating to avoid fines, making onboarding a slog for everyone. It's the new normal.
Definitely not just you. Seems like the bar has been raised significantly, especially for anything involving crypto or cross-border payments. The hoops are real.