Solarisbank migrates its entire customer base to new in-house core banking system

The migration was carried out gradually in 2021 and was completed between 12-13 June 2021 without any banking downtime for its business partners. Solarisbank has a full banking license and enables any business to offer their own financial services compliantly.

Solarisbank offers an API-based infrastructure and a self-explanatory API-documentation. By developing its own modular core banking system, the platform has optimised its infrastructure to meet the specific requirements of a Banking-as-a-Service platform. It can perform core processes such as account openings and SEPA credit transfers.

Moreover, by removing the dependency on a third-party provider, Solarisbank can automate formerly manual processes connected to the ledger in the areas of operations and customer support.

For the migration of its existing partners, Solarisbank decided against a big-bang migration and in favour of an iterative approach. In the first phase, all new end customer onboardings for a given partner were switched to the new system. In the second phase, the existing customer accounts were migrated over.