Banking-as-a-Service (BaaS) platform Solarisbank has completed the transfer of its entire customer base to its own core banking system.
Initially, the Berlin-based fintech firm used an external core banking solution.
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Solarisbank started developing its own platform in 2017. The migration was carried out gradually this year.
According to the fintech, the process was completed last weekend without any banking downtime for its business partners.
Solarisbank CPO Dr Jörg Howein said: “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 organisation.”
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By GlobalDataThe switch to in-house platform is expected to enhance performance of the payment ledger. It will also enable Solarisbank to automate previous manual processes connected to the ledger in the areas of operations and customer support.
Additionally, the move will simplify the addition of new features.
As a BaaS platform, Solarisbank helps businesses to offer their own financial services rapidly and compliantly.
Solarisbank CEO Dr Roland Folz said: “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.”
Last year, Solarisbank migrated all its core banking systems, digital products, and databases to AWS cloud.
