Identity Verification Fuels eToro's Global Expansion

Case Study: Trulioo identitity verification helps eToro quickly expand to new markets while offering safe onboarding and meeting strict regulatory requirements.

• Case Study

Investment Platform

Achieves Aggressive

Growth With Smooth,

Compliant Onboarding

Identity

Verification

Fuels eToro’s

Global Expansion

Trulioo — Case Study

22

The

Challenge

eToro’s global expansion strategy

meant it could reach traders around

the world, but the backbone of that

growth had to be an agile identity

verification solution to ensure

regulatory compliance worldwide.

The social investment platform partnered with Trulioo

in 2019 to provide that solution while ensuring a

smooth customer onboarding expansion. The initial

partnership covered seven countries, but, by the end

of 2020, eToro’s continued expansion meant it was

using Trulioo solutions in 22 countries.

The main advantage of working with Trulioo was

its performance and high match rates when eToro

expanded into a new market, said Vsevolod Babiev,

eToro project management/business analyst

team leader.

“With the robust marketplace of over 450 data

sources from Trulioo, we are able to achieve our match

rate objectives,” he said. “Ultimately, this ensures that

we can deliver a seamless onboarding experience

for users.”

eToro’s continued

expansion meant it was

using Trulioo solutions in

22 countries.

Trulioo — Case Study

The

Solution

With the robust marketplace

of over 450 data sources from

Trulioo, we are able to achieve

our match rate objectives.”

Benefiting From the Shift to Digital

The internet has democratized information and

increased retail investor participation in global

markets. A number of factors have driven that shift to

online investing and encouraged more people to get

involved: zero-commission investing, fractional shares,

low- or zero-interest rates and the overall digitization

of services.

That trend led to rapid growth for eToro. The

partnership with Trulioo showed how quickly eToro

could expand into a new market and start verifying

new customers.

Improving the Onboarding Experience

Trulioo is a key component in eToro’s customer

onboarding. The company’s focus is on identity

verification creating smooth experiences for

customers and reducing manual work for eToro’s Know

Your Customer team, Babiev said.

Trulioo has accomplished that, freeing up the eToro

team to improve other areas of the business and

optimize the platform’s user experience.

• Vsevolod Babiev eToro Project Management/ Business Analyst Team Leader

About eToro

Founded in 2007, eToro is a social investing

platform for traditional assets — such as stocks,

exchange-traded funds, commodities and

currencies — and cryptoassets such as bitcoin

and ether.

With a mission to open global markets so everyone

can trade and invest in a simple and transparent

way, eToro has created a global community of

more than 24 million users, from more than 100

countries, who exchange investment strategies,

connect and learn about the markets across

eToro’s social features.

eToro has created a global

community of more than 24

million users, from more than

100 countries.

The world’s

identity

platform.

Contact Us

Trulioo is a registered trademark of Trulioo Information Services Inc. in the United States, the European Union,

Canada and other countries.

Trulioo is the world’s identity platform, trusted

by leading companies for their verification

needs. The Trulioo integrated, automated

platform provides unparalleled global coverage

for business and person verification and a

comprehensive suite of in-house capabilities.

Combining its state-of-the-art technology with expert verification

knowledge across diverse markets, Trulioo enables the highest

verification assurance levels, optimizing onboarding costs and

fostering trust and security in the global digital economy.

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