In an age where digital experiences are benchmarked against platforms like Netflix, YouTube, and social media, client and adviser expectations in wealth management platforms are changing rapidly.
Users (clients and advisers) increasingly expect onboarding to be fast, seamless, and transparent. However, many firms still operate with manual, paper-heavy processes that create friction from the very first interaction.
At INN8, we believe that onboarding is our opportunity to build trust and demonstrate competence, it’s not a risk point that undermines confidence before the relationship has even begun.
While consumer-facing platforms in other industries have set new standards for ease of use, onboarding in the wealth management space often remains slow and opaque. Clients may be asked to submit the same documentation multiple times, with no clear indication of where they are in the process, or in fact, when it will be completed.
This is more than an inconvenience, it’s a credibility issue. Repetitive requests for information and a lack of process visibility suggest disorganisation, even when compliance and regulatory demands are the true drivers.
Why do first impressions matter?
For many clients, onboarding is their first interaction with a wealth management firm beyond the adviser relationship and a smooth, professional process sets the tone while reinforcing the firm’s reputation for competence and care. Conversely, a fragmented or slow process can raise doubts about operational effectiveness and its trustworthiness.
In a competitive market, especially one as sophisticated as South Africa’s, firms cannot afford to overlook the impact of onboarding on a client’s perception of their business.
The challenge lies in meeting stringent regulatory requirements (like AML, KYC, FATCA, CRS, and POPIA) while delivering a user-friendly, efficient process. These requirements are non-negotiable, but how they are operationalised can make all the difference.
Rather than forcing clients through multiple disconnected checkpoints, firms should embed compliance seamlessly within onboarding. This includes:
One of the core challenges in transforming onboarding is system fragmentation. Onboarding is not a standalone task - it is the start of the client’s full data journey and first exposure to a platform and brand. It must integrate with compliance systems, investment platforms, reporting tools, and servicing frameworks.
Despite that, many firms still rely on legacy systems that don’t communicate well with each other, resulting in manual workarounds, duplication of effort, and inconsistent data. Overcoming this requires deliberate investment in integrated technology stacks and data orchestration capabilities that can support the entire lifecycle.
Artificial Intelligence offers compelling opportunities to accelerate onboarding while improving accuracy, AI can:
This reduces the administrative burden on both clients and internal teams, while speeding up processing times, and enhancing compliance confidence.
The goal isn’t to eliminate human interaction – it’s to ensure that clients don’t have to deal with, or even be aware of the internal complexity required throughout onboarding, they should simply enjoy a smooth, easy process. Onboarding has to feel straightforward and predictable, even when there are numerous sophisticated back-end processes are at work.
Elements of a best-in-class onboarding journey include:
For South African firms, modernising onboarding is both a challenge and a competitive opportunity. Clients are becoming more digitally fluent and less tolerant of administrative friction while regulatory obligations continue to expand.
By rethinking digital infrastructure and prioritising a user-centric design, firms can deliver onboarding experiences that are both compliant and compelling. Those who do will not only improve operational efficiency but also deepen trust and accelerate the time it takes to get clients’ money in the market.
At INN8, we see digital onboarding as a foundational pillar of modern wealth management and it’s why we’ve been considered and deliberate in our onboarding process. It’s where trust is either built or broken. That’s why we’ve been deliberate in designing a process that balances speed, simplicity, and compliance. Firms that invest in seamless onboarding today are setting the stage for stronger client relationships, better data management, and long-term growth.
“INN8 is a registered trademark of STANLIB Wealth Management (Pty) Limited, an Authorised Financial Services Provider in terms of the FAIS Act.”