A recent study by Apideck in San Francisco and Antwerp, Belgium, uncovered that fintech companies are concealing their Know Your Customer (KYC) vendors significantly more than sponsor banks. The study, called the Inaugural Embedded Finance Index, found that fintechs are 2.8 times more likely to hide their KYC vendors compared to sponsor banks. This suggests a trend where fintechs are less transparent about the third-party vendors they use for compliance processes.