Following this announcement, Bitpanda is expected to leverage Solaris’ full digital and scalable Know Your Customer (KYC) solution entitled Bankident in order to identify customers and clients in the region of Germany.
In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
Bitpanda Technology Solutions represents a scalable "Investing-as-a-Service" infrastructure in the region of Europe and worldwide, enabling fintechs, traditional banks, and online platforms the possibility to offer regulated trading, investment, and customer services for cryptocurrencies, ETFs/stocks, precious metals, and commodities. Solaris is an Embedded Finance platform and its proprietary modular B2B tech stack and scalable licensing system aim to empower its partners with the capability to offer customer-centric financial tools.
The strategic deal represents an important new chapter for both Solaris and Bitpanda, with the former already acting as an issuer and processor for the latter’s debit card program across the overall European Economic Area (EEA). By leveraging Bankident, Bidpanda is expected to benefit from a secure and compliant service that was designed to enable customers to identify themselves within seconds. This process in turn helps to increase conversion rates, as well as providing scalability to partners and focusing on the development of the overall financial landscape.
Solaris will provide a multitude of digital identification solution components via RESTful APIs. Its KYC platform was developed to be fully compliant with anti-money laundering (AML) laws, while also having the possibility to be adapted to the specific needs and requirements of a company. This is set to give partners the possibility to keep an eye on the customer journey from start to finish, while also keeping consistent with several corporate branding.
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