New Research Shows WealthTech Firms Could Boost Revenues by Millions Through Better Onboarding

WealthTech platforms are missing out on millions in annual revenues due to investor drop-offs at the onboarding stage, according to the newly released WealthTech Onboarding Excellence Report by HyperVerge and The Digital Fifth. This industry-first study, diagnosing onboarding challenges across 50+ platforms, uncovers where and why investors abandon their journeys and spotlights immediate fixes that double completion rates for leaders in the space.

Based on quantitative and qualitative inputs from leading wealth management experts, the report goes beyond strategic platitudes to examine the building blocks of onboarding journeys that convert.

Key insights include:

• Completion Gaps: Nearly 35% of investors fail to cross the KYC verification stage.
  
  

• Friction Triggers: Lengthy form fills and poor document upload flows emerge as the top reasons for churn.
  
  

• Best-in-Class Practices: Leaders who adopt data-led nudges and frictionless identity verification see completion rates up to 2x higher.
  
  

Kedar Kulkarni, Founder and CEO of HyperVerge, expressed his excitement at the launch of this report, citing their expertise in onboarding journeys and deep understanding of the Indian WealthTech markets. 

"At HyperVerge, we’ve always believed that the foundation of better customer experiences is real-world data, not assumptions. By analyzing millions of onboarding journeys across leading WealthTech firms, we’re enabling platforms to see exactly where investors drop off and how to fix it. This report is an extension of that mission, giving the industry benchmarks and playbooks to convert lost opportunities into growth."

Sameer Singh Jaini, CEO of The Digital Fifth, emphasized the industry-wide impact.

"At The Digital Fifth, we work closely with banks, NBFCs, and fintechs to solve real growth bottlenecks, and onboarding challenges consistently emerge as the biggest hurdle. Partnering with HyperVerge on this report was a natural fit — their depth in AI-led onboarding and our ecosystem-wide vantage point bring together the best of both worlds. The result is a playbook that gives WealthTech leaders data-backed clarity to turn onboarding into a true growth lever."