4 ms·
I need a solution to the other side of this problem: an AI agent that will get me through the KYB process of a bank so I can open a business account.
by bjornsing 2y ago
I need a solution to the other side of this problem: an AI agent that will get me through the KYB process of a bank so I can open a business account.
- OliverWales 2y agoIf we fix business banking onboarding there will be no need for this!
- bjornsing 2y agoAt least where I am (in Sweden) that would require scaling back the amount of paperwork banks feel they need to “KYB”. Opening a bank account today requires about the same amount of paperwork as a loan application 20 years ago. You have to submit a business plan with a SWAT analysis. I kid you not.
- rhimshah 2y agoThat's shocking! I guess regulators haven't loosened up in Sweden. Curious how a business plan is relevant for opening a bank? (loans make sense ie feasibility/risk to repay etc.).