SolarisBank Receives Banking License
Yet another financial technology startup has received regulatory approval to initiate and expand its business.
SolarisBank is a rather unique fintech company, adding multiple parts of the sector into one.
The bank calls itself a B2B2C (business-to-business-to-consumer) startup because it offers products and services to businesses, which can then offer those services to consumers.
The idea behind the company is gaining attention among fintech circles and received approval for a banking license in Germany earlier in the week.
SolarisBank is offering businesses a modular platform of payment processors, compliance and trust solutions, capital financing management and online loans.
The products and services are designed by the bank and are offered to clients in the form of a package.
Clients can customize their own platforms, which they can then use to provide their own services.
SolarisBank also hopes to appeal to finance oriented entrepreneurs who wish to start their own companies.
SolarisBank was founded in 2014 by former Deutsche Bank employee Marko Wenthin and Andreas Bittner with the intent of providing fintech business solutions.
The bank also hopes to provide an alternative to legacy systems that may be outdated.
“At solarisBank, we emphasise technological innovation over banking. We’ve explicitly adjusted to the needs of the digital economy and turned the paradigm of traditional banking upside down,” said co-found Andreas Bittner.