Case Study: Bloom increases onboarding completions by 54% with Footprint

Footprint helps Bloom increase onboarding completions by 54%

Bloom, an investment and education platform, faced a significant challenge with its customer onboarding. Due to complex compliance requirements from its broker-dealer, Alpaca, the company's auto-approval rates were low and over half of its users who failed initial checks would abandon the process. They needed a solution to manage KYC, document scanning, and PII security to improve conversions.

Footprint provided a comprehensive onboarding solution that automated the collection of required information and seamlessly integrated with the broker-dealer's APIs. This single integration handled all aspects of compliance and verification. As a result, Footprint helped Bloom increase its auto-approval rate to over 90% and achieve a 54% increase in onboarding completions, representing approximately $500,000 in additional annual customer lifetime value.

Bloom

Sam Yang

Co-founder and CPO