Simplify and accelerate client onboarding across Wealth Management, Banking, and Insurance for a frictionless experience
The Cost of Complexity in Onboarding
Financial Services clients today expect fast, seamless, and digital-first interactions — whether they’re investing, opening a bank account, or buying insurance. Yet many firms still rely on multiple systems, separate workflows, and manual processes to onboard clients. For clients with multiple accounts or multiple-owner setups, onboarding often becomes a treadmill of separate application forms, repeated data entry, compliance checks and eSignatures.
That complexity isn’t just inconvenient, but also expensive. Wealth Management firms report that many clients take weeks, sometimes months, to complete onboarding — delaying account activation and delaying revenue.
Clearly, juggling multiple systems and workflows across asset classes is no longer sustainable for firms who want to deliver a premium client experience.
Why Traditional Onboarding Doesn’t Work for Complex Portfolios
Clients today span Wealth, Banking, Insurance — often with multiple accounts, joint ownership, trust structures, and varied asset types. Traditional onboarding methods struggle under that complexity: separate forms for investments, banking, insurance, manual duplication of client data, repeated KYC/AML checks, and disjointed systems for each line of business.
This fragmented approach leads to long, cumbersome processes. For many firms, onboarding a complex client can take 14–22 days or more, with multiple follow-ups and frequent rounds of document resubmission. As many as 68% of clients reportedly abandon the onboarding process before completion under such friction.
On top of that, clients expect digital convenience: 72.7% prefer digital onboarding over manual processes, according to a survey by Lightico. Firms that fail to deliver a smooth digital onboarding experience risk losing clients, especially when agile fintech competitors are raising the bar of client experiences.
For wealth managers, this complexity not only damages client satisfaction but also increases operational costs, slows time-to-revenue, and reduces conversion rates.
One AI-Powered Unified Onboarding Solution for Everything
Modern AI-powered solutions simplify onboarding across all asset classes under one unified workflow. Whether a client is opening investment accounts, banking accounts, or purchasing insurance — individually or jointly owned — these unified solutions make onboarding fast, compliant, and seamless.
By leveraging an end-to-end digitized onboarding process driven by AI:
- Clients fill in core information just once, regardless of how many accounts they open or how many owners there are.
- Smart data orchestration handles separate asset types but consolidates workflows, saving time and avoiding duplication.
- Built-in compliance for KYC/AML, integrated e-signature and secure document handling ensure compliance without friction.
Adopting such a unified onboarding capability aligns with client onboarding best practices and transforms your investor onboarding workflow into an efficient, scalable engine. Client acquisition, even for complex onboarding cases, can shrink from weeks to hours. For operations teams, it slashes manual intervention by up to 90%. For advisors, it unlocks time to focus on financial planning rather than paperwork. For clients, it delivers speed, clarity, and confidence.
Why This Matters For Wealth Firms and Investors Alike
With AI-led digital onboarding solutions, what once felt like a juggling act — multiple asset classes, multiple accounts, multiple owners — becomes one smooth, unified journey. Firms achieve higher conversion rates from a future-ready onboarding experience that scales across Wealth, Banking, and Insurance.
If you’re ready to turn onboarding from a pain point into a competitive advantage, our AI-powered Unified Onboarding Solution can help.