FinLeap, the German fintech 'startup factory' that is seeking to churn out 4-6 fintech ventures per year, has just announced the launch of solarisBank.
solarisBank is a fully-licensed, online-only, digital bank. It is intended to serve as a platform for fintech startups (with several undisclosed companies already 'on board'), whether processing loans or issuing cards.
Offering what it calls Banking-as-a-Platform, FinLeap, the German fintech ‘startup factory’, has hatched its latest venture. This time the Berlin-based company builder (to use the preferred terminology) is investing and betting on the underlying regulatory and financial technology infrastructure — the picks ‘n’ shovels, if you will — in the form of solarisBank, a fully licensed digital bank designed to power an array of fintech services. Born out of the frustration experienced by FinLeap’s own startups when faced with the need to piggybank an existing banking license and technology in order to be able to offer various financial services, solarisBank has developed what is described as a modular-based banking toolkit, including, and crucially, various modern banking APIs. This means that it’s able to offer other fintech businesses various services that, in turn, they can offer to their own customers.
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