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Onramp delays - repeated compliance requests

Dear community,

a business partner of mine whom I have originally recommended Kinesis and who has been with it since late 2020 has contacted me for help.

He is telling me he had recently done a transfer and that this transfer was being withheld by Kinesis compliance team. It seems he is being asked for repeated verification (he had already provided his full id, passport on occasion of another transfer dating not too long before this one).
Not only has he sent in all the requested documents but he is not new and has successfully complied with every single verification request so far. This is the first time he is experiencing difficulties.

He does not know who he is dealing with or sending these documents to on the side of "Kinesis compliance team". The person requesting them never signs with their name and keeps on requesting new documents that were not in the original request. He contacted Live Chat and they confirmed that the process was arbitrary, and there was no information beforehand because it was feared this could be used in some nefarious way. - He could contact his AE to sort things out.

I suggested that as well, thinking that the AE as a personal intermediary could be helpful in the process. But it seems the one that was in charge until recently has left his position and his new AE is not really able to do much about it.

Now. It is understandable that Kinesis is under scrutiny and needs to perform checks. But the way this is going seems even concerning to me. And I have run out of suggestions so that is why I am turning here for suggestions and support.
 
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I had the same experience myself a few months ago.
I had to send back all the documents but I was also called by an advisor , so I made the step but I could not always use the platform , I had to send back an email to tell them the problem and a few days after all was working again
 
Sounds really frustrating.

It's possible that there is a person with a similar (or same) name in the same geographical area that would fail compliance and that it's taking additional checks and time to be sure who Compliance are dealing with.

While having previously successfully used Kinesis will usually lead to a continuance, if someone had subsequently engaged in activities that would cause them to fail KYC, Compliance would need to have processes in place to pick this up.

As a personal contact, Account Exec is likely to be the best route. Could always ask to speak to AE's manager.
 
Thank you for your answers. Uchiki, so you're saying he should ask his AE to put him into contact with his AE manager ?
 
My driver's license recently expired. Compliance reached out. I was skeptical of the email so reached out to my AE. He verified that the request was legitimate. Once I sent a temporary state license and my receipt from the State, compliance replied that my funds were now available.
Kinda glad they stay on top
 
Sangoku said:
Thank you for your answers. Uchiki, so you're saying he should ask his AE to put him into contact with his AE manager ?
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That's his point of contact to run it up the chain to get a resolution. Those multiple email requests for the same information with no resolution should be included as screenshots so the AE and/or manager can see the problem from his perspective.
 
@ROS: was this concerning a transfer of funds ?

@Uchiki: yes, not only does he seem frustrated, but he says he is totally estranged. He tells me he has never experienced this kind of arbitrary behavior with his own bank. And that he always knows who he is dealing with on the other side by name, which does not seem to be the case here.

I find this strange, too. Why do the people not sign with their name ?

update: contrary to what was originally stated last Friday compliance team seems not able or willing to read the banking statement they originally asked for - so my bp has sent in an additional document yesterday, consolidating source of fund. He has also asked his AE to put him in contact with the manager.

A full week has passed that the funds have been in limbo and not credited.

@SteveW thank you for clarifying
 
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