Client onboarding is something that every firm has to do, but it often slows down the initial client experience.
You take on a new client and they’re eager to get going. You’re pleased to see your client base growing and then the admin starts.
It all begins with getting their details and ID, preparing your letters of engagement, chasing signatures, while running AML (anti-money laundering) and KYC (know your client) checks in the background.
For many firms, this work is still managed on a spreadsheet or someone’s email inbox. It’s a clunky, patchwork process.
It feels like it works, but deep down, you know it can and should be done better. When things do go wrong, they take time to fix and the important early stages of the client relationship suffer.
That’s why many accountancy firms are looking for platforms that can help them to manage the process in a single place.
However, finding out which one is right for your practice is not always easy. So, let’s guide you on what to look for and what to ask vendors.
What does a client onboarding platform actually do?
At its core, a client onboarding platform replaces the manual process of collecting information, verifying identity and getting paperwork signed, with a structured, digital workflow.
The best ones for accountancy firms typically handle:
- Client identity verification (KYC/CDD) in line with MLR 2017 requirements
- AML screening against sanctions and PEP lists
- Engagement letter generation, customisation, and e-signature
- Secure document collection from clients
- Risk profiling to support your ongoing due diligence obligations
What they’re not is a CRM, a practice management tool or a client portal for day-to-day communication.
They sit at the front end of the client relationship to ensure that new clients are properly onboarded and that the process is documented for compliance, so the rest of your work can begin.
Key features to look for
Here are some of the features that you should look out for as standard when choosing a cloud-based client onboarding platform.
KYC and CDD that meets MLR 2017
The Money Laundering Regulations 2017 place specific obligations on accountants in practice.
Your onboarding platform needs to support proper customer due diligence, not just tick a box, but actually capture and store the evidence you’d need in a supervisory review.
Look for platforms that let you set risk-based workflows, flag higher-risk clients for enhanced due diligence and keep a clear audit trail.
AML screening
Manual PEP and sanctions checks are time-consuming and easy to miss. A platform with built-in AML screening or a direct integration to a screening provider removes the risk of relying on someone remembering to run a check.
Engagement letters
Engagement letters are non-negotiable, but generating, customising, sending, and chasing them is still a pain point for most firms. Look for a platform that lets you build templates for different service types, send them digitally and capture a legally valid e-signature without needing a separate tool.
Secure document collection
You need clients to send you ID, bank details and sometimes sensitive financial records. A secure upload process, with access controls and audit logging, is better than email for both compliance and client confidence.
Workflow flexibility
Every practice works slightly differently. A platform that provides you with a set workflow ensures that your own processes are consistent. This helps with visibility for leaders, while regulators, such as the ICAEW, have a clear audit trail to show that the correct procedure was followed.
Questions to ask any vendor
Before you commit to a demo or a trial, it’s worth having a short list of questions ready:
- Is the platform designed specifically for accountants or is it generic onboarding software with an accountancy skin?
- How does it handle MLR 2017 compliance obligations and can you show me the KYC and risk assessment workflow?
- Can these workflows be customised?
- What happens when a client fails an AML check? How is that flagged and documented?
- Can I customise engagement letter templates without involving your support team?
- What does the setup process look like for a firm of our size?
- Who holds the data and where is it stored?
- Does it have single sign-on (SSO) and two-factor authentication?
Good vendors will have clear, confident answers to all of these and any vague answers on compliance or data residency are worth pressing them on.
Red flags to watch out for
Here are a few things to be mindful of when choosing the right client onboarding platform for your practice.
- No clear audit trail – If a platform can’t show you a timestamped record of every step in the onboarding process, it will raise questions as to whether it is compliant enough for accountancy use.
- Buried AML – If AML checking is an add-on rather than built-in, ask why and whether it’s been built properly for UK requirements.
- Lock-in without transparency – Multi-year contracts with unclear exit terms are a red flag, especially when you’re still evaluating fit.
How to evaluate a shortlist
Once you’ve narrowed it down to two or three options, a structured evaluation helps avoid buying on the best demo rather than the best fit.
So, run the same test scenario through each platform to see how it functions differently and keep an eye out for regular discrepancies.
Make sure to involve other members of the team who will use it to assess how it supports their roles.
Feel free to ask for references from other firms that are using the platform to understand the real benefits it offers.
Get started with Onboarder
Based on our own experiences of client onboarding software, we built Onboarder to address some of the key issues we see within many firms’ practices.
It is built for accountancy firms with 1–50 staff and handles KYC, AML screening, engagement letters, and secure document collection in one place, but still flexes to the way your practice already works.
Why not give it a try? Sign up for a trial today.