Fintech Onboarding Case Study Now LIVE 🚨

Recently, at UserGuiding, we've been working hard on a project.

We analyzed the onboarding UX of different tools in different industries like EdTech. 

You seemed to love it, so we doubled down on the research... 

And now, our Fintech onboarding case study is HERE 🔥 

 Let's check out some insights:

Fintech to reach $262B in 2025

Fintech is growing.

Now, that's not news; most industries are growing. But for Fintech, it's among the fastest-growing industries with the inclusion of AI technologies and digital currencies as the latest trends.

Market Data Forecast finds that the global Fintech market size is expected to see $262.55 billion in 2025 and $1.583.05 billion by 2033 🚀

But where does it become relevant to onboarding? 

AppsFlyer finds that 4 out of 10 finance apps get deleted within a month. There is natural attrition involved, like in any industry, and there is another likely factor:

Poor user onboarding.

This brings us to our own research ⬇️ 

How Do Fintech Companies Onboard Users?

We've just published a case study where we share insights on how Fintech companies onboard their users, which UX elements they use, and how many.

We analyzed a few bigballers, including Zoho Books, Xero, Bonsai, BILL, FreshBooks, Clio, FreeAgent, and Honeybook. 

Check out the case study Miro board now! ⬇️ 

Get Case Study 🌟

A few additional insights: 

1️⃣ Fintech Signups are chef's kiss

Most Fintech products have thorough signup flows, mainly because they need all the financial details. Typically, they have a few steps at the beginning, and if not, they handle it inside the platform afterwards.

All in all, they tackle that step with pizazz even though they need more details than most platforms. 

2️⃣ Traditional onboarding is not a want, it's a need 

Many apps and platforms are moving away from traditional user onboarding, but for fintech, this movement is coming at a slower pace. 

And yet, this is not necessarily bad news, as fintech often requires extensive progressive onboarding.

With strategically used empty states and user onboarding checklists, most fintech products come full circle in delivering good UX.  

3️⃣ No consensus on the ideal email

There is a bit of a disparity in how fintech products send onboarding emails.

Some will have very polished, well-timed email campaigns, while others will send an activation email or nothing at all. 

The best explanation for this is each product's unique approach to onboarding users. One good pattern here is that if the emails are weak, the in-app experience needs to be (and is) stronger.

P.S. If you'd like us to analyze your tool, feel free to reply to this email with "I'm in!"  

Who knows, maybe we can make your onboarding flow better together 😉

Fintech Numbers in Real-Life: Success Story

Fintech has many great onboarding examples, as well as great achievements to take inspiration from. 

In fact, we've got a few under our belt: 

Canopy: $300K saved on support costs 💰 

Canopy is an accounting and tax resolution solution that struggled with their user onboarding UX. 

They tried Pendo and Intercom, but the fit just wasn't right.

Then they found UserGuiding.

With UserGuiding’s interactive UX elements, Canopy saved over $300,000 in support costs and significantly reduced the customer support burden by successfully deflecting over 15,000 potential support tickets.

Read full story ✨

Fintech has been an amazing journey for us so far, and we hope to see more awesome Fintech onboarding flows.

Don't forget to check out the case study and come talk to us if you'd like to see your tool in our next study 😉 

See you next time,

Joud