Which term describes the systemic process of bringing new clients into a financial system?

The systemic process of bringing new clients into a financial system is accurately described as client onboarding. This term encompasses the actions and processes that a financial institution undertakes to integrate new customers into its services or offerings. It includes preparing clients with necessary information, setting up accounts, educating them on how to use services, and ensuring they understand the terms and conditions. Client onboarding is crucial because it sets the foundation for a strong relationship and helps ensure a smooth transition for new clients.

While customer acquisition is related, as it focuses on attracting new clients, it does not capture the detailed steps involved once a client has decided to engage with the financial system. Client retention refers to the methods used to keep existing clients satisfied and engaged over time, not to the process of integrating new clients. Market engagement refers to broader efforts by a company to interact with potential customers but does not specifically denote the process involved in onboarding new clients. Thus, client onboarding is the most precise term for this process.