Solarisbank Selects Feedzai as Risk Management Partner
- Banking , Cloud , Risk Management
- 22.09.2021 04:05 pm
Two fintech Unicorns join forces to shape the future of financial services and democratize access to banking in Europe
Feedzai, the world’s leading cloud-based financial risk management platform, and Solarisbank AG, Europe's leading Banking-as-a-Service platform, announced today at Money20/20 Europe a multi-year partnership. The pioneering companies have joined forces to reshape banking, combining the trailblazing transformation that comes with Banking-as-a-Service with the risk management and security that is expected from financial institutions - all while preserving the customer experience. Importantly, the flexibility of Feedzai’s risk management solution means they can scale as Solarisbank grows, helping the company to keep up with a regulatory and geo-political landscape that is in a constant state of flux as well as more comprehensively protect customers from threats.
Solarisbank enables any company to offer financial services via APIs while easing the technical and regulatory complexities of banking. With this new partnership, Solarisbank is leveraging Feedzai’s proprietary technology which enables them to apply an effective risk management which is in line with respective law requirements.
“We were drawn to Feedzai’s depth and breadth of experience in helping various banks fight financial crime,” said Roland Folz, CEO of Solarisbank. “Using Feedzai’s financial risk management platform we can bridge an important gap within the industry to deliver the best experience, both in terms of customer ease of use and protection from financial risk.”
Solarisbank joins an elite list of customers that use the fully packaged Feedzai Solutions that can assess risk for single and cross-channel transactions in an agile and easy-to-deploy way.
“We are excited to be part of Solarisbank’s growth journey by providing a best-in-class risk management tool that will be further protecting its tech-savvy customer base,” said Nuno Sebastiao, CEO of Feedzai. “A growing number of financial institutions are looking for cutting edge financial risk management technologies wrapped around a digital-first evolution approach. Solarisbank is leading this new wave of financial institutions that are unlocking the full power of the cloud.”
Solarisbank evaluated several solutions available in the market. Among the key differentiators that contributed to the decision of implementing Feedzai’s technology are:
- Flexibility in handling the financial risk of a growing heterogeneous customer base while being able to make changes in a self-service fashion
- Configurable Risk Levels: the ability to apply an effective risk-based approach during transactions monitoring
- Flexible SSR (self-service rules): the provision to work on rules independently
In addition to Feedzai’s flexible technology, scalability played an important role in order to match Solaris growth projections for the years to come.