back Back

Solarisbank migrates customer base to in-house core banking system

By Megha Bhattacharya

June 17, 2021

  • Europe
  • Solarisbank
Share

Solarisbank today 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.

“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,” said Dr. Jörg Howein, CPO of Solarisbank.

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. 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.

“With the activation of local IBANs in France, Italy and Spain, Solarisbank is cementing its position as Europe’s Banking-as-a-Service leader. Thanks to the in-depth automation in our entirely self-developed software architecture, we have set a new European benchmark in terms of cost efficiency and service quality,” said Dr. Roland Folz, CEO of Solarisbank.

Previous Article

June 17, 2021

illimity and Apollo announce a strategic joint venture

Read More
Next Article

June 17, 2021

Libro Credit Union launches Yooli, a new money management app powered by MX

Read More

IBSi Prime News

astra

December 08, 2021

Europe

Transferring money to the right place at the right time: Interview with Gil Akos, CEO of Astra

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

YES BANK partners with The Fintech Meetup to drive grass root level FinTech

Read More

Today

Jana Small Finance Bank appoints Buvanesh Tharashankar as CFO

Read More

Today

Workpay partners with Kwara to offer streamlined HR & Payroll services to SACCOs in Kenya

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More