"So, this is the new normal." You're right - I've had to do a few KYC checks recently with banks, lawyers, and accountants, and in the past I've had to do it for a personal finance application for an "interest-free deal" from a furniture store. Here in NZ there's legislation that mandates the KYC checks as part of anti-money laundering laws.

Unfortunately, I've already had sensitive information breached because of this - twice! One was from a large financial institute in Australia called Latitude - I didn't even know that I had ever interacted with them, but they are the parent company of a bunch of these interest-free credit card deals.

So yes, this is the new normal but it's not good.