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FinLeap, the German fintech 'startup factory' that is seeking to churn out 4-6 fintech ventures per year, has just announced the launch of solarisBank.
solarisBank is a fully-licensed, online-only, digital bank. It is intended to serve as a platform for fintech startups (with several undisclosed companies already 'on board'), whether processing loans or issuing cards.
Born out of the frustration experienced by FinLeap’s own startups when faced with the need to piggybank an existing banking license and technology in order to be able to offer various financial services, solarisBank has developed what it is described as a modular-based banking toolkit, including, and crucially, various modern banking APIs. This means that its able to offer other fintech business various service that, in turn, they can offer to their own customers. These include account and transaction services, compliance and trust solutions, working capital financing, and online loans. Those service not only require a technology solution, but in many instances, a banking or e-money license. SolarisBank handles the heavy lifting for both.
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