Backbase secures onboarding deal with eToro

Engagement banking tech provider Backbase has won a contract with eToro to improve its digital onboarding and back-end compliance infrastructure.

The multi-asset investment platform will adopt Backbase’s digital sales solution to deploy a fully digital account opening experience across its global user base.

The company will also incorporate a new Know Your Customer (KYC) architecture.

“Our mission is to open the global markets so that everyone can trade and invest in a simple and transparent way,” said Israel Kalush, vice president of engineering at eToro. “Since our founding in 2007, innovation has been in our DNA and we require partners whose technology can scale with us.”

Kalush added: “eToro is growing rapidly – we added over 5 million new registered users in 2020 and a further 3.1 million in Q1 2021 and we’re looking to Backbase to support us as we continue this expansion.”

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