Collecting and verifying onboarding data is often associated with high levels of customer dissatisfaction and high drop-off rates. Creating an onboarding workflow that has user experience at the core means providing an interactive step-by-step process, facilitating the process through a seamless omnichannel interface, and using automation as part of the data collection and verification process.

Regulated firms – mostly financial institutions – that require online enrolment can be considered targets for onboarding sales opportunities. These entities are regulated and require a compliance framework that must engage clients remotely, following compliance requirements. Depending on the business (i.e., crypto, wealth management, e-commerce, etc.) the workflow might vary, but all must follow KYC and AML requirements alongside delivering a fast and smooth customer experience.