FinFlow is a mid-stage personal finance app with 6 million registered users and a freemium subscription model. The company has strong top-of-funnel acquisition through paid channels, but activation is lagging behind competitors because too many new users abandon the onboarding flow before reaching their first key value moment.
FinFlow's onboarding flow has 7 steps: account creation, email verification, goal selection, bank connection, income setup, notification preferences, and dashboard tutorial. Of users who start onboarding, only 42% complete it, and just 24% link a bank account within 24 hours. Early retention is highly correlated with successful bank connection: users who connect an account in their first session are 2.3x more likely to still be active after 30 days.
Leadership wants to know where the biggest friction points are and what should be fixed first. You are the PM responsible for onboarding. Your task is not only to identify drop-off points, but also to determine which friction is most meaningful for users and the business, and how you would validate improvements.