Backbase, an Engagement Banking technology provider, announces today that it has partnered with eToro, a multi-asset investment platform that empowers people to grow their knowledge and wealth, to enhance eToro’s digital onboarding capabilities and back-end compliance infrastructure. The collaboration will see eToro adopting Backbase’s Digital Sales solution to deploy a fully digital and seamless account opening experience across its global user base, as well as a new Know Your Customer (KYC) architecture to better support the platform’s growth and compliance across the full customer lifecycle.
With customers from more than 100 countries, eToro operates in a highly regulated global industry which does not have a unified approach to rules and regulations. As eToro tailors its offerings, products and services to the regulatory requirements and limitations of each of the jurisdictions within which it operates, it required a technology partner with a robust global presence and sophisticated architecture to allow the platform to continue to grow exponentially – while providing state-of-the-art security and global compliance support. Backbase’s Digital Sales solution advances these goals by meeting KYC and other compliance needs for both new and existing eToro users, in addition to providing back-office support through its Case Manager solution so that eToro users are able to register and invest on the platform with minimal friction.
Backbase’s Digital Sales solution will be deployed via Microsoft Azure – ensuring that, as eToro grows, its digital architecture will be able to scale alongside it. Operating in a cloud environment will allow Backbase to rapidly deploy new product features and updates to help eToro stay fully compliant with evolving regulatory requirements on an ongoing basis.
eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 20 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want. www.etoro.com