Solarisbank is Europe's leading Banking-as-a-Service (BaaS) platform. By leveraging the power of technology, Solarisbank removes the barriers for businesses that want to offer their own financial solutions. Its platform was built from scratch to enable financial services to move into new contexts that were unimaginable before.
Cloud banking platform
The adoption of customer-centric models has evolved banking from a tedious event into a fluid activity in consumers’ life experiences. Businesses are embracing fintech to embed financial services directly into the products customers use. By integrating financial services into people’s lives, companies can provide a one-stop frictionless experience for their customers, all while not having to leave their platform.
This rising trend offers a truly convenient banking experience that saves time and seamlessly syncs with life by providing financial services precisely at the time and place it’s needed.
Solarisbank is leading the European charge by partnering with retailers and fintechs and lets them integrate its modular financial services through APIs directly into their own product offerings. Solarisbank provides everything from digital banking accounts and payment cards, identification and lending services, digital asset custody as well as services provided by integrated third-party providers.
Catering for the specific requirements of a BaaS model, Solarisbank is running a modular core banking infrastructure and has migrated all of its services to the cloud. This involves multiple providers of standard solutions for different purposes, such as general ledger, regulatory reporting, loan ledgers, clearing and settlement mechanisms connectivity.
In order to run their modular core banking system more efficiently, Solarisbank needed to find a solution to help serve as the customer account subledger system for their lending business. According to Dr. Jörg Howein, “With a trend of growing volumes hitting our booking platform as a result of larger and more partners, we found our previous loan booking provider was not suitable to sustain our future needs. We needed a system that could manage loans in an efficient and scalable way, ideally hosted in the cloud. We needed a loan booking provider that was scalable and matched the level of Solarisbank's overall tech stack.”
Scalability was limited as only one loan could be created at a single point in time, and the total amount of loans that could be generated per day was restricted. Also their legacy provider didn’t support horizontal scaling, meaning it was impossible to add more instances to the system and distribute the load between them.
Solarisbank turned to Mambu as it offers an API-enabled solution hosted on Amazon Web Services (AWS), which matched the BaaS platform’s setup. Leveraging Mambu’s infinitely scalable cloud native platform, Solarisbank has full flexibility to integrate and configure various lending products and can finally address their international expansion plans.
Solarisbank is now Germany’s first bank in the cloud. Leveraging modern cloud technologies, it 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.
Following a quick and smooth four month implementation, Solarisbank is able to create more compelling products for their customers, that in turn improve the banking experience for consumers across Europe. With over one million customer accounts, Solarisbank relies on Mambu’s technology to run the lending load of some of their largest partners like Samsung Pay.
Dr. Jörg Howein confirmed, “A multitude of lending specific use cases are covered extremely well by Mambu, both on conceptual level as well as on operational level. This helped us to integrate Mambu into our larger infrastructure within only a couple of months, now already running the lending-load of some of our large partners.”