Our common, accepted knowledge - and what we should demand - is that all KYC be concentrated in actual banks. Actual banks (not fintech barnacles) enjoy a very

Our common, accepted knowledge - and what we should demand - is that all KYC be concentrated in actual banks. Actual banks (not fintech barnacles) enjoy a very privileged position in terms of verifying identity and legal mechanisms afforded to them. If a non-bank actor can verify against an actual bank, that should be enough… It is absurd that, for instance, a small saas/iaas provider should perform any form of KYC when we can match a successful payment against a bank.