Trading and investing platform eToro has announced its partnership with Lean Technologies to provide instant AED bank transfers to UAE customers.
Following this announcement, the collaboration will enable eToro to leverage a locally regulated Open Banking provider to offer secure, efficient, and instant AED funding.
Through the process of linking their eToro account to their local bank, UAE-based users and customers will have the possibility to securely deposit funds quickly without leaving the eToro app. This procedure aims to eliminate tedious steps like filling in card details and switching between apps, as well as reducing unnecessary friction and the risk of manual error. This strategy will take place in order to significantly streamline the funding process.
More information on the eToro x Lean Technologies partnership
According to the official press release, by integrating this capability, eToro will be able to provide users with multiple benefits, such as access to a faster, easier, and safer funding experience. At the same time, the collaboration will reinforce the company’s commitment to working with locally regulated partners in order to optimise the user experience for customers, while also accelerating the UAE’s rapidly growing fintech landscape.
This initiative will also add to eToro’s broader localisation initiatives in the region, such as the opening of its Abu Dhabi office, the addition of stocks listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, as well as the process of integrating the national identity platform UAE PASS into its onboarding process. All of these steps are aimed at providing a personalised, relevant, and secure experience for investors in the UAE and across the MENA region.
From now until 31 December 2025, customers and users who leverage instant bank transfers to deposit AED into their trading account will have the possibility to benefit from zero conversion fees when converting AED into USD on their deposit. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
