Which in turn means you benefit from everyone else who's already been stung. KYC solutions' risk:reward ratios start high, but asymptotically approach 0 as the provider learns from its customers' problems. If you're signing up for a well-established one, you're able to free-ride on all the learning that's already been done.
You can have your cake and eat it, too:
- Start with a third-party KYC solution
- Slowly develop your own and compare the results with the one from the provider
- When your own solution provides something similar to the other one, you can abort the subscription