The Best-in-Class Customer Onboarding Process (A Guide)

The Best-in-Class Customer Onboarding Process (A Guide)

Traditionally, onboarding a client was an arduous and time-consuming process, both for customers and financial institutions. With evolving customer expectations, banks, fintechs and other regulated businesses need to be innovative to meet their clients’ needs. The days when account opening required several visits to a branch, bouncing from one stakeholder to another, lots of paperwork and confusion, as well as identity verification are long gone.

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What shapes customer expectations?

With many services being available on mobile, or delivered remotely and instantly with almost real-time responses - customers’ expectations have changed dramatically in recent years. Not to mention the endless list of businesses delivering (and standardizing) the best-in-class customer experience by providing seamless and effortless processes. By standardizing instant account opening, Neo banks and digital-first financial services put even more pressure on traditional institutions to push the envelope of innovation and digitization. Fintech solutions like Dotfile help regulated businesses to keep up with the competition.

How to create a seamless experience during the customer onboarding process?

Implementing a customer onboarding solution doesn’t guarantee a good customer experience in itself, it’s only half the journey. If the onboarding process doesn’t meet prospects’ expectations, they will abandon the application. That’s why, a customer onboarding process needs to be well-structured, intuitive, and seamless to ensure conversion and customer engagement. Below, are some of the key aspects to consider.

Short form

While onboarding clients, it’s crucial to request only necessary information, especially in the initial steps of onboarding. More and more users are likely to drop off if the application is too detailed and cumbersome. You should only ask for necessary information, like key identifiers, while any additional data can be requested later on. Doing so may result in reducing the onboarding length as a whole thereby directly increasing customer satisfaction.

Identity verification

Identity verification greatly boosts customer experience by removing unnecessary and outdated identity authentication processes like knowledge-based questions or phone calls. However, to provide the best results this verification method should be placed strategically in the customer onboarding process. In some cases, requesting verification at the beginning of the onboarding process results in a conversion decrease. It’s also important to select a verification solution that makes the process smooth and quick. Customers who find the authentication process frictionless are more likely to use the digital service than customers frustrated by it.

End-to-end process

Customers expect to get immediate access to the desired product or service. The best customer onboarding process leads to instant account opening. This is possible through end-to-end verification solutions that automate necessary verification steps speeding up the entire process. By streamlining the onboarding steps, businesses can reduce its time by 90%. Service providers that can’t implement innovative solutions will remain behind their competition.

Seamless and secure process

There are many more aspects to consider that may improve customer experiences, including transparency, security, or personalization. Customers expect an intuitive and easy-to-use interface enabling them to go through the onboarding process smoothly. It should also be a transparent process enabling customers to understand why certain data is collected. Providing prospects with information or guidance helps to manage their expectations and build trust, which can also be enhanced by ensuring safety and security during and after onboarding.

How Dotfile can help you provide a best-in-class customer onboarding process?

Dotfile is an end-to-end verification platform offering both business and individual verification services. We help businesses automate the processes to create a streamlined experience for their customers. Anything from data collection, AML screening, or ID verification to risk scoring or enhanced due diligence can be automated. Using Dotfile, businesses can verify their clients in 10 seconds and reduce the time to close a deal by 40%. Our white-label solution allows for personalized and localized experience. Get in touch to see how we can help you provide a better user onboarding experience.


A smooth customer onboarding process can greatly enhance user experience and boost engagement by simply meeting customer expectations from the get-go. Providing frictionless onboarding is a first step in acquiring a new client regardless of where they may be. The next steps need to include a clear and intuitive form that is easy to interpret and fill in, allowing you to gather the most important information at the outset. Next, a seamless identity verification system that allows immediate account creation to finally take place. Dotfile helps businesses to accelerate account opening. Book a demo to see how we can help you.

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