<< Back to All Resources

Why Your Financial Institution’s SMB Onboarding Process Needs a Netflix-Level Makeover

By Angelica Cataldo
January 9, 2025 | 4 min read

Your Onboarding Process is the Pilot That Doesn’t Take Off

Your onboarding process is like starting a show with a painfully slow pilot episode. You’ve hyped it up, your audience is ready to dive in, and then…nothing happens. Small businesses, much like binge-watchers, have no time for delays or confusion. It’s no wonder they’re hitting the “skip” button and moving on to your competitors.

Instead of delivering the seamless, engaging experience customers expect, many businesses—especially financial institutions—offer something closer to a DMV appointment: long wait times, clunky forms, and zero value.

But don’t cancel the season just yet. You can still give your customer journey the glow-up it deserves while giving small businesses the user experience they deserve. 

Spoiler alert: Worth is the streaming service your business needs to transform business onboarding into a “blockbuster” success.

The “Skip Intro” Problem

Let’s be honest: manual onboarding processes are a snooze fest. Endless forms, disorganized workflows, and confusing instructions turn SMBs off faster than a poorly scripted pilot. These inefficiencies lead to:

  • Slow onboarding times: Delays frustrate SMB clients and erode trust.
  • High dropout rates: Many SMBs don’t even make it past the opening credits.
  • Team misalignment: Without clear processes, internal teams struggle to keep up.

This results in SMBs losing patience and abandoning their application before you even get a chance to show them the value of your services.

Viewer Discretion Advised

A poorly executed onboarding process impacts your bottom line. Every delayed or abandoned onboarding process represents lost revenue. For financial institutions, the challenges are even more critical: when SMBs back out before completing onboarding, you don’t just lose their business, you lose the opportunity to lend, manage, and grow revenue streams from these clients.

The Netflix Effect

SMB clients expect an onboarding process that feels more like signing up for Netflix than cable. They want intuitive, fast, and frictionless interactions. If your process doesn’t deliver, they’ll cancel their “subscription” to your institution and move on to the next one.

Steps for a Netflix-Level Makeover

1. Start with a Strong Pilot Episode (Streamline the Start)

Every great series starts with a pilot episode that hooks you from the first scene. Your onboarding process needs to do the same. Ditch the endless forms and outdated systems, and replace them with streamlined, automated workflows.

2. Binge-Worthy Consistency (Eliminate Manual Plot Holes)

Nobody likes plot holes and manual processes are full of them. Delays, errors, and inefficiencies slow your SMB onboarding to a crawl. Automating repetitive tasks ensures that every episode (or step) of your process is consistent and engaging.

3. Keep Viewers Hooked with Pre-fill (Lightning Verification)

Netflix knows how to keep you hooked with seamless recommendations, and your institution can do the same with autofill. By instantly pulling and verifying SMB information from trusted databases, you can save time and eliminate manual entry for your clients.

4. End Every Episode on a High Note (Make It Seamless to Convert)

No one likes cliffhangers that leave them hanging indefinitely. If there’s friction at the final step of your onboarding process, SMB clients will drop off right before the finish line. Keep it simple, digital, and client-friendly.

How Worth Can Help Your Financial Institution Become the Netflix of SMB Onboarding

Your Institution’s Glow-Up Starts Here

Worth’s all-in-one platform is the ultimate tool for financial institutions looking to provide a seamless and efficient onboarding experience that can even rival Netflix. Here’s how Worth’s features stand out:

  • Zero-Touch Onboarding: From KYC/KYB to fraud detection and credit underwriting, Worth streamlines every step, allowing institutions to onboard customers without handholding, reducing operational burdens and increasing efficiency.
  • Data-driven insights: Tap into the largest database of over 242 million SMBs to make faster, smarter decisions.
  • Lightning Verification: Instantly match SMB data using just three fields—customer name, business name, and tax ID—eliminating delays and manual entry.
  • Continuous monitoring: Stay proactive with real-time alerts and predictive analytics.
  • Customizable workflows: Tailor the onboarding experience to fit your institution’s needs.

With Worth, you won’t just improve your onboarding process, you’ll transform it into a seamless, engaging experience that SMB clients will love.

Why Stop at a Makeover? 

Faster SMB onboarding means more leads, higher revenue, and a competitive edge. By embracing Worth’s innovative platform, your financial institution can:

  • Onboard SMB clients in record time.
  • Minimize risks with automated compliance checks.
  • Create a frictionless client journey that drives loyalty and referrals.

Roll Credits: Your Next Step

Ready to give your SMB onboarding process the Netflix-level upgrade it needs? With Worth, you can automate, accelerate, and convert like never before.

Don’t let SMB clients hit the skip button. Your onboarding transformation starts now. Learn more or schedule a demo.

Schedule a Demo Now