Feedzai, a U.S. cloud-based financial risk management platform and Berlin-based Banking-as-a-Service (BaaS) service provider Solaris Bank have entered into a multi-year partnership (announced at Money20 / 20 Europe).
Through this partnership, Solarisbank will take advantage of Feedzai’s innovative technology, which will enable it to apply an appropriate risk management approach, in accordance with relevant legal requirements.
The companies have partnered to combine BaaS with the risk management and security expected of financial service providers, while delivering a seamless customer experience (CX).
The overall flexibility of Feedzai’s risk management service means they are able to scale as Solarisbank expands its operations, helping the company keep pace with the changing regulatory and geopolitical landscape. The service should also help protect customers from threats.
Solarisbank management has indicated that it will provide financial services through APIs while relaxing technical and regulatory requirements for banking services.
Roland folz, CEO of Solarisbank, said:
“We were drawn to the depth and breadth of Feedzai’s experience in helping various banks tackle financial crime. By using Feedzai’s financial risk management platform, we can fill a significant gap within the industry to deliver the best experience, both in terms of ease of use for the customer and protection against losses. financial risks.
Nuno sebastiao, CEO of Feedzai, said:
“We are excited to be a part of Solarisbank’s growth journey by providing a premier risk management tool that will further protect its tech-savvy client base. A growing number of financial institutions are looking for cutting-edge technologies in financial risk management, articulated around a digitally driven approach to evolution. Solarisbank is leading this new wave of financial institutions unleashing the full power of the Cloud.
As previously stated, Solarisbank is one of the leading BaaS platforms in Europe. As a technology company with a full German banking license, Solarisbank “enables other companies to offer their own financial services both quickly and in a compliant manner.”
Using their simple APIs, they allow partners to “integrate Solarisbank’s modular banking services directly into their own product offering at a much more cost effective”. The platform provides virtual bank accounts and payment cards, identification and lending services, digital assets, including custody and brokerage, as well as services offered by integrated third-party providers.
In 2021, Solarisbank launched business operations in France, Italy and Spain to provide local IBANs, providing access to local financial ecosystems in the four largest European markets. With headquarters based in Berlin, more than 450 Solariens “representing over 60 nationalities are working together to transform the financial services industry”.