Solarisbank Secures Full German Banking License from BaFin and ECB
Solarisbank, now known as Solaris, received regulatory approval for its full banking license from BaFin (German Federal Financial Supervisory Authority) and the European Central Bank in April 2018. Founded in March 2016, the company filed its banking charter application and secured approval in approximately nine months, an unusually rapid timeline. This made Solarisbank one of the first digital financial service platforms in Germany to obtain a full banking license, positioning it as a pioneer in the European Banking-as-a-Service space.
The license enabled the company to offer its technology platform to partners through APIs spanning payments, lending, and digital banking services. Solarisbank's BaaS model allows non-bank companies to embed financial products into their own customer experiences without needing their own banking license. The company reportedly achieved profitability shortly after launching operations.
Meanwhile, the U.S. OCC's proposed national fintech charter remained stalled during this period, highlighting Europe's more advanced regulatory pathway for fintech banking charters. The approval set the stage for Solarisbank's growth into one of Europe's leading BaaS providers.
- Established a regulatory precedent for BaaS-native companies obtaining full banking licenses in Germany and the EU
- Demonstrated Europe's faster regulatory pathway for fintech bank charters compared to the stalled U.S. OCC fintech charter process
- Enabled non-bank companies across Europe to embed financial services via Solarisbank's API platform without their own license