Solarisbank is Blazing a Trail for a New Breed of Digital Banks
Solarisbank is flipping the script and transforming one of the oldest industries. A technology company at its core, it is equipped with a full German banking license and is the first German bank to fully migrate to the cloud. Founded in 2016, Solarisbank is making its mark on the financial services industry as Europe’s leading Banking-as-a-Service platform. Blazing a trail for a new breed of digital banks, Solarisbank is reimagining what it means to simplify the banking experience by removing the barrier for businesses that want to create and offer their own financial solutions, enabling them to serve customers in ways that were once unimaginable. As the financial services industry is in the throes of a massive digital transformation, Solarisbank has established itself as a designated provider in the technology community by harnessing the driving force of European fintech innovation. The company’s approach to rethinking the consumer experience and meeting customers where they are in today’s on-demand environment, is opening up opportunities across the board for strategic partnerships. Powering Solarisbank’s BaaS mission More and more we are seeing consumers drive the evolution of the financial services industry as their desire to simplify their banking increases. As consumer behaviour rapidly shifts, both B2C and B2B financial services providers are having to shift their approaches and offerings. Technology is situated at the core of this shift, acting as the enabler for change. Solarisbank is a leading example of addressing the need to be flexible, agile and customer-centric in the design of financial products. Catering for the specific requirements of a BaaS model, Solarisbank has migrated all of its services to the cloud and is leveraging the power of technology, such as APIs, to allow partners access to their modular services, including payments, lending and digital banking. Through this, Solarisbank is creating a highly developed technological banking ecosystem, as well as services provided by integrated third party vendors, for fintechs and established digital companies, banks and corporates. In order to run more efficiently, Solarisbank needed to find a scalable solution to help serve as the customer account subledger system for their lending business, and ideally one that was hosted in the cloud. Given our deep experience in cloud banking, Solarisbank turned to us and was able to quickly integrate Mambu into their larger infrastructure in just 4 months. With now over 1 million customer accounts, Solarisbank relies on Mambu’s technology to run the lending-load of some of their largest partners like Samsung Pay. Through this partnership, Solarisbank will be able to create more compelling products for their customers, and support partners in their highly developed technological banking ecosystem that will in turn improve the banking experience for SME customers in Germany. “We built our BaaS platform from scratch to enable financial services to move into new areas that were originally seen as unimaginable. Leveraging technology like Mambu’s SaaS banking platform, which we are using as a slim subledger system in the lending area, helps us remove the barriers for businesses that want to offer their own financial solutions. Considering our various different lending products and our ambitions for international expansion, selecting Mambu was a logical choice and allowed us high flexibility on integration and configuration, all while being highly scalable. In partnering with Mambu, we believe that it will help enable our mission to create a world where financial services seamlessly sync with life,” says Dr. Jörg Howein, Chief Product Officer at Solarisbank. By providing fast, flexible banking solutions, we are helping banking and lending businesses like Solarisbank create modern customer experiences to compete in the fintech era and give control back to their customers. Partnerships with companies like Solarisbank, that make transactions seamless, easy and safe, are so exciting. Without keeping up with the latest in financing technology or regulations, companies can instead focus their time on the goods and services that make up the core of their business. Solarisbank isn’t just helping to transform one of the oldest industries; it’s changing the consumer experience and meeting customers where they are in this on-demand economy. It’s a bellwether for innovation to come.