Onboarding - taking the friction out

Being on the advisory board of another startup, and working with many others, I have seen from experience that many neglect their onboarding journey.

One of them in particular is suffering with scaling up at the moment, as their onboarding process isn’t slick enough so their drop out in their funnel is ridiculous. You only get one chance in a crowded FinTech space, and if people can’t onboard within five minutes max, they are off and won’t come back.

I am intrigued to hear what the plans are and if people have seen any interesting things that could help, like making a photo of ID documents for ID&V and AML, layering machine learning on it for data extraction, etc.


Truely nothing ticks me off more than this when using a platform that requires onboarding and then you become stranded like you are at an airport terminal on a cancelled flight.

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@Martijn, as I’m sure you are aware with your unrivalled experience in the FinTech space, the likes of Monzo and Starling ask for a picture of your passport and then to verify ID, ask a new client to submit a video of themselves saying a specific phrase like “I would like to set up a Monzo account”. And the onboarding is very quick - 5 minutes tops. There might be some further background checks in some cases, I’m sure. But for the majority of people it is quick and seemless.

Given the comment from @tom_mf on another thread regarding the slickness of MF’s API functionality (Partnerships with other FinTechs) is there some way of using this to help with the onboarding process? For example if you have already been through the AML and ID and verification process with another bank or financial institution - if you were to select your bank on MF’s sign-up page, could MF’s API capabilities allow it to utilise the previous process and prevent MF having to repeat the process? I’m not entirely sure of the regulatory rules around this TBH so just throwing it out there. HMRC use something similar although not quite in the same way as a form of ID verification by allowing users to sign in via companies such as Experian and even the Post Office I believe.

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Just thought I would put in my experience so far in the hope it may help - I am not a paying customer (yet) but was initially sent an email (taken without my knowledge/consent as far as I know from crowdcube I presume) that I had successfully registered/signed up for MF…(!) thinking it was spam/hoax I was going to bin it but thought would take a look all the same and was very interested in what was on offer but from the information available could not get my head around what was required so called in to discuss and was later called back by Tom I believe it was the result of which was that it seemed necessary to deposit a rather large sum of money to get the ball rolling which I politely suggested surely was a bit of a tall order for potential clients to have to commit such large amounts of money to an essentially unknown entity and left it at that still receiving the occasional email and keeping an eye on developments so was pleased to see the ‘£10 deal’ - having found a bit of time to take a look at what is going on I signed into the MF website and am presented only with a table of subscription options and the select buttons that take me to a PayPal page to setup the subscription payment… I then hunted around for the £10 deal and found it mentioned in the blog and clicked on the ‘log in’ link to see the offer but am just returned to the same blog page article - I am now unable to log in to the MF site at all but do not know if this is something to do with my browser/cookies/cache so decided to sign up here and post my experience in that it seems so cumbersome to actually find out what is on offer and do I really have to sign up to a $30/month subscription to invest £10?!? Spent long enough on it now and I appreciate that perhaps my issues are due to being an early adopter (even though I’ve yet to invest a penny) or browser issues but really it is difficult to see how to get started that I am tempted to just sign up for the $30/month if only to get past this screen and through the door to take a look around… tenner in hand :wink:

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Hi @MaxT, welcome to the forum and thanks for sharing your experience! I’m sure this will be very useful feedback for @tom_mf and the MF team.

Were you on the UK or US site? I downloaded and signed up through the app (Android) and found the process pretty straightforward. You need to fill in personal details, select what portfolio you are interested in and whether you want to hold it in an ISA or not. You enter how much money you want to invest and then set up a bank transfer from your current account. It should only take a couple of days to hit your account.

You can invest and transfer from as little as £10 at a time, as often or as infrequently as you want and there is no monthly subscription or investment you need to make.

I hope this helps and that you stick with it.

Hi @JamesWhitt thanks for the quick reply and yes I hope it is useful feedback/I do like the sound of the offering and hope not to be coming across as negative not the intention at all but as is evident am finding it somewhat difficult to actually get started!

I am logging in via browser here - https://www.marketsflow.com/ no idea if this is UK or US site but saying that trying it again now when I click the login it just opens another tab with the same page so currently can’t login at all - am in the middle of a load of stuff at the mo and don’t want to turn this into a support conversation so will try a restart later on and see if that clears out whatever is causing the problem but as I say even when I can log in I just get that table of options which feels like a bit of a stonewall

Yes I downloaded the iOS app before posting and signed in using my credentials and am presented with a form to complete my details - wasn’t sure I wanted to do that as there is no information as to what I am actually completing but will go through it now if that means I am then actually able to see what is going on

Would just say too for what it’s worth most brokers (totally appreciate this is different) I’ve ever used have minimums around the £250/£500 mark (but no deposit is required to set up demo and be able to login and take a look around/test things out/get a feel for the interface etc.) - appreciate £10 is an extremely attractive low entry and can kind of see where you’re going with it but anyone with any sense knows there is very little room for making any meaningful returns on a tenner in this world and almost makes things look a bit too cheap but if I could actually ‘get in and see’ how this is supposed to work perhaps I would understand things better :slightly_smiling_face:



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@MaxT, don’t worry you’re not coming across as negative, this is the right place to give your feedback! And I’m sure the MF team would rather know about these issues and be able to fix them, than have people put off by them.

It’s not entirely clear on the website, but if you scroll to the bottom you’ll see a link to switch to the UK site, I’ve put the UK link here as well:


Once you fill in your details and select how much you will add to your account on the app, you’ll be able to see what there is currently available to view. I don’t think you’re actually then under any obligation to transfer that money over then if you don’t want to, so you don’t have to pay up front if you see what I mean.

If you have a look at this topic on the forum you’ll be able to see what the app looks like, if you don’t want to have to put in your details. https://community.marketsflow.com/t/working-on-app-dashboard-charts-for-the-next-release/

If you want more info on how MarketsFlow does what it does, you’re probably best off speaking to @tom_mf further and he may be able to send you some of the documentation that was used in the recent crowdcube raise to give a bit more flavour. The app / opening an account won’t really give this to you as it is more of a dashboard.

With regards to the returns on a tenner in £ terms - yeah that’s very true, but I think the aim is to make MF and its strategy, methodology and technology accessible to everyone and to be the first movers to do so. So that if you don’t have an up front £250+ amount to invest, you can still access very good returns in percentage terms. Then every time you have a spare tenner you can invest it until you do have a sizeable pot and are making good £ returns as well as percentage returns :grinning:

@JamesWhitt many thanks for helping out :grinning:

@MaxT thanks for reaching out and sorry for the issues you have been experiencing while logging in/setting up. I think I have figured out, and this should help.

You account may have set up as Self-Optimised account and as a result was taking you to subscriptions. This service is no longer available.

I have now amended your account to the Managed portfolio service. This should allow you to deposit funds starting from £10 as per @JamesWhitt post. :crossed_fingers:

You can do this on the App too and you will need to complete the Account and Financial information. Once this is completed and ID/Verification documents uploaded, you have the option to deposit funds.

Let me know if that works.

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OK many thanks for all the help/info all taken onboard and I can now login and ‘see things’ using the UK site link at the bottom of the page via browser - much better thanks!

Have also just deposited my tenner and yes I take back what I said earlier/much happier to part with such a small amount to be able to get in and see what is going on

One reason I didn’t really want to enter details on the app was that I wasn’t sure I wanted to set up another ISA (and what if I had already maxed out my ISA allowance how could I deposit the £10/is there a non ISA option?) and have to deal with/keep on top of in terms of overall yearly deposits into ISA account(s)

Anyway many thanks again for all the help the ball is now rolling…!



Great to read this @MaxT

Welcome aboard!!

Hi @MaxT, I’m glad everything is working for you now! I’m guessing that because you have deposited funds now, you have seen it is possible to open a non-ISA account.

@tom_mf, no problem, that’s what the forum is for! Is it worth considering moving the screen where you select the portfolio you are interested in investing in, to the front? Before you fill in all your details etc. Just to avoid people wondering what they are signing up for when they are filling out their details?

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Hi @JamesWhitt - please let me know if I should start a new thread/contact you directly/apologies to have hijacked this post but I guess it is all relevant as to a newbies experience?

Not sure if it is perhaps that funds/ID verification are still clearing (no indication of that/all seems good) or I am missing a link somewhere but I don’t really see very much at all now I’ve had a chance to take a look over the weekend… the app as you say is pretty much a dashboard but the website doesn’t have anything much else available - I see a chart that tells me it will updates in 10 reporting days and a ‘MarketsFlow High Growth Portfolio’ button that does nothing when I try to click on it - the ‘Portfolio’ button that shows the performance (of what I don’t really know as I have no idea where I have ‘put’ the £10) - the ‘Account Transaction’ button that shows my deposit and the settings icon where I can complete my details (done), deposit,withdraw,change password etc. - I was hoping perhaps the ‘suitability’ option would be where I chose which account to deposit the £10 too but it just brings me to same page with the chart…

@tom_mf - thanks for the welcome and as per @JamesWhitt comment if there is anything you can send over to me it would be most welcome - many thanks!

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Hi @MaxT
Welcome again and thanks for all the comments and feedback!

Due to the nature of sensitive data, we will send you a message directly to your email about the approval of your ID/address verification documents.

If you have made a deposit, you should have received a Deposit confirmation in terms of assignment to the portfolios.

When you log-in to your dashboard you should be able to see the Portfolio assigned as below, along with daily performance and account transaction tabs (please see images attached)


Regarding your important product account question, could you please email it to support@marketsflow.com as we are dealing with all support questions directly from there :blush:

We also have a newly launched Help section, where you can find more info on a number of topics https://intercom.help/marketsflow

I think we can all agree that the current onboarding journey feels clunky, lengthy and leaves people somewhat in the dark. That is not a criticism, it’s a reflection of the early stage that MF is at with its digital development.

However, I would like to ask @tom_mf and the team what the appetite is for implementing an incredibly slick onboarding journey that can compete with the best of FinTechs, by using any of the following technologies (or others):

  1. onfido.com - as used by Revolut
  2. jumio.com - as used by Monzo
  3. trulioo.com - as used by many others

They can help to verify customers online in seconds, through electronic identity verification, document verification and by comparing entered data against global data sources.

Obviously, with the global ambitions picking one that has the widest global reach is critical, but all of these three would be good to have a discussion with.

I reiterate my previous point, i have seen from experience that a lot of startups ignore the onboarding journey and therefore their conversion funnel suffers badly as people don’t complete the onboarding journey.



I completely agree that the onboarding journey should compete with the best out there. I was massively impressed by Monzo’s seamless and very fast onboarding process, and would certainly endorse jumio.com.

As the first serious interface with a company, onboarding has to be as you say slick, fast and flawless. For me I always see onboarding as displaying the persona of a company and a strong indication of what is likely to follow. Building trust with new/prospective investors has been mentioned previously and the onboarding experience is a key part of this.


Thanks @martijn and @Curious1we completely agree, onboarding has to be simple, slick and frictionless. We have made some changes to the App due for release where the users get instant response for AML verification, but we will also look into jumio.com. Thanks for suggesting it.

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Have a look at all three, Monzo uses Jumio but Revolut uses Onfido. All have their pro’s and cons, it depends on what you are trying to do. All can create super slick onboarding processes that take minutes.

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