As reported by Handelsblatt, BaFin has recently had to approve every new Solaris customer (customers being institutions not end customers). According to a Solaris representative, the institute is currently subject to authorisation with regard to new partnerships and will continue to do so until further notice. This means that the technical service provider will have to get the green light from BaFin before they can take on new customers, however, existing partnerships are not affected by the Bafin requirement. The Solaris representative explained that this development is in line with Solaris' strategy of making its own platform as reliable and secure as possible. BaFin’s decision
Solaris is a technology company with full banking, e-money and brokerage licenses which enable it to operate on a pan-European level in all financial areas. With their APIs, users can embed its fully digital banking services directly into their product. The company uses data mesh architecture to leverage data for decision making, planning, forecasting, and regulatory compliance.
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