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If we fix business banking onboarding there will be no need for this!
by OliverWales 2y ago
If 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.).