6 months after signing the partnership contract, the partnership has now been approved by all relevant regulatory authorities, including the Federal Financial Supervisory Authority (BaFin), the Bank of Lithuania, and the Financial Conduct Authority (FCA). According to a Contis representative, Contis and Solarisbank will now operate as one and bring a Banking-as-a-Service offering to the European market.
The partners aim to become a complete end-to-end one-stop shop for fintechs, banks, and corporates looking to integrate financial services into their offerings. Together, the companies offer fiat and crypto assets, lending, as well as payments and card issuance and processing in all EEA countries. Solarisbank is additionally preparing to be IPO-ready from the third quarter of 2022, which includes measures such as the switch to IFRS accounting standards, the implementation of new ESG standards, as well as process optimisation and investments in compliance and regulation.
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