#fintechonboarding

By Ling Wei Chang, LedgerFunding, Inc. – United States

When people think about financial platforms—especially those dealing with trade finance or working capital—they often focus on the headline features. Speed. Risk scoring. Funding options. Those matter, absolutely. But there’s one area that quietly determines whether any of this actually works: onboarding.

It’s not flashy. It doesn’t get much attention. But if onboarding is slow, confusing, or inconsistent, the whole system drags. Lenders walk away. Borrowers give up. And momentum—what little there is in the early stages—gets lost.

So let’s talk about it. Onboarding might sound administrative, but in a digital lending environment, it’s strategic. It’s where trust begins. It’s where the relationship forms—or fails.

For lenders, especially institutional ones, onboarding traditionally involves layers of due diligence. KYC (Know Your Customer), AML (Anti-Money Laundering), documentation reviews, regulatory compliance—these are necessary, but they’ve also been manual for a long time. Some lenders still send PDFs by email, ask for paper signatures, or wait weeks for third-party verifications.

But here’s the thing: the technology exists now to make this smoother. Platforms can automate identity checks, pull credit and trade history in real time, and offer dynamic dashboards that show risk profiles in minutes. What used to take weeks can happen in days—or even hours. We’ve seen it.

At LedgerFunding, Inc., based in the United States, we’ve built systems designed to support exactly this kind of fast, secure onboarding. We know lenders don’t want to spend weeks reviewing repetitive files. They want insights. Clarity. And confidence that the borrowers they see are credible, well-matched to their portfolio, and ready to engage.

For borrowers, the experience is just as critical—maybe more so. Many small and mid-sized businesses aren’t used to dealing with alternative financiers or digital platforms. They’re used to their bank manager or an accountant handling things. So if the onboarding feels technical, lengthy, or opaque, they get frustrated. Or worse, they just stop.

I’ve seen it happen. A high-potential manufacturer in the Midwest once abandoned an onboarding process simply because they were confused by the terminology. No one explained what a “UBL authorization” was or how to format their supplier list. It’s a small thing, but it cost them access to financing they genuinely needed.

That’s why language matters. User experience matters. Borrowers shouldn’t need a finance degree to upload documents or verify a transaction. Onboarding should feel intuitive—like a conversation, not a test.

But here’s the challenge: every lender wants different data. Every borrower has different systems. Creating a unified, flexible onboarding experience means designing around variability. There’s no single standard—and maybe there won’t ever be. But that doesn’t mean we can’t do better.

I think we’re getting there. AI and machine learning now allow us to pre-fill forms, flag errors before submission, and adapt onboarding flows based on business type or geography. Embedded help, video walkthroughs, smart nudges—all of these tools are becoming more common. They don’t just save time. They build trust. And trust, in finance, is everything.

Looking ahead, I see onboarding evolving from a one-time entry point into an ongoing profile. Something that lives and breathes with the business. As companies grow, their financing needs change. Lenders want updated risk views. Borrowers want to avoid re-submitting the same documents every quarter. A live onboarding model—something continuous—might just be the answer.

As we prepare for the 2025 Go Global Awards this November in London, hosted by the International Trade Council, this theme of connectivity keeps coming up. At LedgerFunding, Inc., we’re honored to be a nominee for the awards, but more than that, we’re excited to be in a room full of other people asking hard questions about how to simplify global trade and finance. It’s not about trophies. It’s about collaboration. The kind of real-world conversations where someone might say, “Actually, we ran into that onboarding issue too—here’s what worked for us.”

That kind of peer exchange is invaluable. Especially now, when complexity seems to be increasing everywhere—supply chains, compliance, funding requirements. Making things simpler, more human, more accessible... that’s no longer a luxury. It’s the baseline.

So, if you’re a lender, the question is: how easy are you making it for qualified businesses to work with you?

And if you’re a borrower, maybe ask: are you choosing partners who treat your time—and your data—with respect?