Solarisbank launches in France, Italy and Spain to offer local IBANs

By Megha Bhattacharya

Solarisbank AG, the tech company with a banking license, announced that it has launched in France, Italy and Spain to offer local IBANs. In addition to covering the entire European Economic Area (EEA) via passporting, this step now provides Solarisbank’s partners uninhibited access to the local financial ecosystems of Europe’s four largest markets. Solarisbank has managed to set up local operations in the three new markets and build up a first-class team of international professionals around three highly experienced general managers.

“With the activation of local IBANs in France, Italy and Spain, Solarisbank has become a true pan-European platform. Hereby we cater to the ambitious growth plans of our existing partners, but also boost our competitive edge. With the possibility to combine the right financial services tailored to individual needs, Solarisbank offers unparalleled flexibility for companies with European ambitions,” said Timo Weber, Managing Director & General Representative of Solarisbank.

Recently, Solarisbank announced that it has successfully migrated its entire customer base from an externally sourced core banking solution to its own core banking system. According to the company, the new development has enabled it to optimize 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.