Customer onboarding in DFS relies on Know Your Customer (KYC) processes to collect basic details like demographics, tax information, and income. While these profiles help meet regulatory requirements, they are often riddled with errors and fail to provide meaningful insights into users' actual needs or financial behaviours.

KYC processes overlook key aspects such as the user’s financial experience, digital literacy, and functional capabilities. Without understanding these factors, service providers miss the opportunity to tailor products, support, and experiences to users. As a result, many users receive generic services that may not align with their actual needs or level of comfort with DFS.

Expanding user profiling to include financial and digital competence can enable more relevant and adaptive DFS experiences. Instead of a one-time assessment during onboarding, profiling should be an ongoing process, evolving with user behaviour and engagement. This continuous approach ensures that users receive timely, personalised solutions that support their financial growth and confidence.