Anyone else finding that the KYC/KYB process for new acquiring partners has become increasingly cumbersome over the last 12-18 months? It feels like the paperwork and verification steps have doubled, even for established entities with clean records. This extended onboarding timeline can be a real headache when trying to diversify payment rails quickly or bring on a new regional partner.
It's like they're actively trying to see how many trees we can fell for 'due diligence.' I'm half expecting them to ask for my firstborn's dental records next.
Yes, it's definitely gotten more involved. We've seen similar delays, particularly with partners in certain jurisdictions, despite having all our ducks in a row for years. Wonder if it's new regulations or just increased internal scrutiny.
It's almost as if they've collectively decided that the best way to accelerate the future of finance is by thoroughly investigating its past, one document at a time. My personal record for the longest KYC turnaround is now pushing five months, and that was for a known entity. Perhaps they're just training us for the patience required in long-term investing?
Definitely seeing that. The push for more rigorous compliance is hitting everyone, not just new players. It's slowing down expansion, no doubt.
I've seen the same. It's not just the amount of paperwork, but the lack of standardization across partners. Each one wants something slightly different, which adds significant overhead to what should be a routine process.