Fintech onboarding best practices to make users happy

With the stiff competition happening in the current world of fintech, you can’t afford to create a tedious fintech onboarding interface that turns your users off. So, you should start by choosing the best fintech systems design for your platform. You should also ensure that your design creates the right impression from the start. Continue reading to learn more about fintech onboarding best practices.

What’s Fintech Onboarding?

Fintech onboarding is the process of making your target customers familiar with your product or service. A successful fintech onboarding process should support new customers as they navigate your fintech app or website by providing them with personalized guidance and assistance. If you want your fintech company to satisfy the needs and expectations of your customers, you have to make your onboarding process frictionless.

A great onboarding process will improve your company’s user experience (UX) and user interface (UI), and it will assure your customers that they’ve made the right choice. Consequently, your conversion and retention rates will improve consistently. This is also one of the main benefits of good UX design in fintech. In this era of money laundering, online scams, and other financial transgressions, the process of fintech onboarding may sound complex and perilous. But if it’s done properly, it can be easy, smooth, and frictionless. Here are some of the best practices for fintech onboarding.

Prompt Onboarding

Research shows that at least 38 percent of new fintech consumers will abandon the onboarding process if it proves to be too long. They’ll also quit in the middle of signing up if the onboarding process requests more details than they’re willing to disclose. According to Forrester, at least 54 percent of banking customers filling out an application form will quit before they complete it, especially when the process turns out to be too long and tedious.

So, make sure your fintech onboarding process is easy and quick. It’s a fast-moving world and therefore nobody wants to waste their time trying to sign up. They will just move on to the next user-friendly option. So, if you want to increase the number of your active clients, make your fintech onboarding speedy and straightforward.

Clear Onboarding Process

The importance of a good UI in fintech is that it gives your customers peace of mind. Every new user wants to know what’s expected of them when signing up so that they can prepare themselves adequately before they start. Whether your onboarding process is done online or offline, your users need to be aware of every step of the process. Otherwise, some customers will grow impatient and exit without entering all the necessary details.

Fintech onboarding design by Merge Development

Letting your new customers know the steps involved in the process and the information required will save them time and encourage them to go through the whole process without omitting important details.

Compatible with Multiple Devices

Your fintech onboarding systems should be compatible with different devices, including desktops, tablets, laptops, smartphones, and other mobile devices. This will allow your customers to interact with your platform on various channels. Also, ensure that your web content is fully optimized for your mobile app and other mobile devices.

Well-Organized and Security

In this era of data mining, privacy has become essential in both online and offline dealings. For this reason, your fintech onboarding system should assure your customers that their personal data is safe. You can do this by offering clarification on why you are asking for certain details. This will reassure your customers that your company takes time to protect their data and safeguard them against online fraud.

Fintech onboarding design example

Finally, you should continuously review your fintech onboarding systems to ensure that they are user-friendly. For instance, analyze your onboarding forms and application processes to meet the needs of every new customer.

Serhii Hyliuk

Head of Growth

Head of Growth and Customer Success. I'm interested in design, new tech, fashion, exploring new places and languages. My mission is to make our clients happy.

Head of Growth and Customer Success. I'm interested in design, new tech, fashion, exploring new places and languages. My mission is to make our clients happy.


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