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Simplifying User Onboarding for Financial Services Apps

Stakk streamlines financial app onboarding for better user engagement and thorough testing to enhance user retention.


Successfully onboarding app users is a significant challenge for financial services companies. With a growing number of consumers embracing mobile-first financial services, it’s crucial to address the onboarding journey, considering that 77% of daily active users abandon an app within just three days. The onboarding process plays a pivotal role in user retention, encompassing everything from quick installation and registration to demonstrating how your fintech app solves problems and enhances users’ lives. At Stakk, we understand the complexity of compliance and regulatory issues, and we’ve leveraged our years of experience in financial services app development to outline four essential steps to improve the onboarding process.

Fast Sign-up Process:

A key element of successful onboarding is a fast and streamlined sign-up process. By allowing users to create a profile upfront, they can explore the range of fintech products available on your platform. Understanding that users may have limited knowledge or digital skills in banking, insurance, or investment, it’s important to simplify the user experience with fewer steps and straightforward onboarding. At Stakk, we invest time in the discovery phase, gaining a deep understanding of the target audience, their needs, and their technical abilities. This knowledge informs the design of our mobile apps, ensuring they meet user requirements and engage the target audience effectively.

Seamless Intuitive User Journey:

During onboarding, customers should feel welcomed and at ease. Complex financial terminology can deter users, making them feel inadequate to navigate the app. To counter this, the product browsing aspect should provide clear signposting, easy-to-understand information, and detailed explanations. Using friendly and accessible language is vital, such as adopting descriptive terms like “pots” for segregating account balances, as seen in Monzo’s app. At Stakk, our content designers and developers excel at creating user-friendly language tailored to the knowledge level of the target audience, resulting in enhanced customer retention.

Know Your Audience:

Placing the target audience at the forefront of the design process is essential for creating an app that users want to use repeatedly. Financial services apps should aim to boost user confidence in banking and investing knowledgeably. Avoid assumptions about users’ financial knowledge levels and consider incorporating features like a glossary of terms, pop-up boxes explaining transaction limits, or Plain English explanations of financial products offered. Transparency in collecting personal data is also crucial. Users should understand why you require their information and trust that their data will be handled securely. Educating users through clear content and intuitive user flows during onboarding enhances the overall user experience.

Test, Test, Test:

Testing early with representative app audience demographics is crucial for fintech mobile app design. Observing how users navigate through the onboarding process uncovers issues and informs necessary adjustments. For instance, in our project Dodl by AJ Bell, initial user feedback revealed that a shopping cart approach seemed out of place when purchasing funds and shares. This realization prompted the team to redesign the process to ensure seamless purchasing and overall success. At Stakk, we emphasize comprehensive testing to refine the user experience and deliver an app that resonates with users.

Get in Touch:

If you want to learn more about how our experienced team of mobile app development experts at Stakk can optimize the performance of your app, contact us today. We’re here to help you create a seamless onboarding experience and drive user engagement.