Onboarding & KYB for new PSPs – still a joke?
Is it just me, or has anyone else noticed that KYB/onboarding with some of the newer PSPs, especially those leaning heavy into crypto rails, is still an absolute nightmare? We're trying to integrate a few new options for specific geographic corridors and the documentation requests are often mismatched with local regulations, or they're just plain inconsistent. It feels like a lot of these platforms haven't scaled their compliance teams effectively or they're just using off-the-shelf solutions without understanding the actual operational implications. It drags out integration for weeks when it should be days. Is there any light at the end of this tunnel, or am I just picking the wrong partners?
It's not just you. "Mismatched with local regulations" sounds about right, though I sometimes wonder if the regulations themselves are just a moving target no one can quite pin down, least of all the onboarding team.