Solarisbank, with a full banking license, enables any business to offer their own financial services rapidly and compliantly


Solarisbank successfully migrates its entire customer base. (Credit: Firmbee from Pixabay.)

Solarisbank AG, Europe’s leading Banking-as-a-Service platform, today announced that it has successfully migrated its entire customer base from an externally sourced core banking solution to its own core banking system. The migration was carried out gradually in 2021 and was completed last weekend without any banking downtime for its business partners.

Solarisbank, the tech company with a full banking license, enables any business to offer their own financial services rapidly and compliantly. To ensure a short time to market, Solarisbank offers a simple API-based infrastructure and a self-explanatory API-documentation. By developing its own modular core banking system, Solarisbank has optimized its infrastructure to meet the specific requirements of a Banking-as-a-Service platform. It can now perform core processes such as account openings and SEPA credit transfers at a fraction of the time and with far greater stability, equating to a drastic increase in the scalability and cost efficiency of the platform.

Running our own core banking system allows us to offer all of our partners improved service level agreements and grants us full control over performance. I am incredibly proud of what our product and tech teams have achieved. The swift execution of the project and especially the smooth migration demonstrate the professionalism and deep expertise of Solarisbank’s tech organization. Dr. Jörg Howein, CPO of Solarisbank

In addition to the improved performance of the payment ledger itself, removing the dependency on a third-party provider also enables Solarisbank to automate formerly manual processes connected to the ledger in the areas of operations and customer support. This both reduces the operational maintenance and allows new features to be added with ease. Compared to ledger-only systems, this deeply automated system achieves greater process quality and speed, ultimately resulting in a far superior experience for the end customer.

The development of the core banking system started in late 2017. The first partners to launch solely on the new system were Vivid Money and Samsung Pay, who started offering their services together with Solarisbank last year.

For the migration of its existing partners, Solarisbank decided against a big-bang migration and in favor of an iterative approach in order to ensure a frictionless experience for its partners and their end customers. In the first phase, all new end customer onboardings for a given partner were switched to the new system. In the second phase, the existing customer accounts were migrated over.

Source: Company Press Release