Onboarding Friction with PSPs - KYC/KYB Hurdles
Anyone else hitting a wall with PSP onboarding lately, specifically around KYB? We're a mid-sized e-commerce platform, fairly established, clean record, but the documentation requests and verification times from several providers have become borderline absurd. It's not just the usual AML/CTF stuff, it feels like an additional layer of scrutiny that wasn't there 18 months ago.
Trying to integrate new payment rails, particularly for some alternative methods, and the cycle of submitting docs, waiting weeks, only to get an email asking for another bespoke letter or proof of address for a beneficial owner who's already provided two, is killing our timeline. Is this just the new normal, or are certain PSPs just better equipped to handle a smoother, more efficient KYB process for established businesses? Any particular red flags or best practices others have found to navigate this effectively?