Germany-based banking-as-a-service (BaaS) platform Solarisbank has selected Amazon Web Services (AWS), an Amazon.com company, as its cloud technology partner.
Under the partnership, Solarisbank has migrated all its core banking systems, digital products, and databases to AWS cloud, from an on-premise datacentre, within one year.
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Solarisbank is the first German lender to make this move.
It is a part of its strategy to create a product and technology platform, for automation, to cater to its growing customer base.
Through its German banking licence and API infrastructure, Solarisbank has enabled its business partners to easily offer financial services, while eliminating technological and regulatory barriers.
Solarisbank will benefit from AWS’ cloud services, security, performance, and reliability, which will help scale its products.
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By GlobalDataThe lender is supporting its technology team to become certified by AWS, as part of its strategy to create a cloud-fluent organisation.
Before this latest development, Solarisbank also became an AWS Advanced Technology Partner.
This brings opportunities to the bank to establish strategic partnerships within the AWS partner network.
Following its shift to AWS cloud, Solarisbank is now looking to expand in several European markets over the course of 12 months.
Solarisbank CTO Hima Mandali said: “By migrating our entire infrastructure to AWS, we have equipped ourselves to create exceptional banking experiences for our partners and paved the way for our European expansion.
“With the shift to a cloud-first mentality, we have also become nimbler in our product development. I am proud of the team for completing the migration so swiftly and without any downtime or impact to our customers.”
Back in July 2020, the fully-licenced Solarisbank raised €60m ($67.2m) in a Series C funding round to grow its team and expand its footprint globally.
