Solaris Discontinues Major Parts of EMI Business (Formerly Known as Contis)

Infrastructure
26.09.2024 10:55 am

Solaris, Europe’s leading embedded finance platform has taken the difficult decision to discontinue major parts of its Electronic Money Institution business (formerly known as Contis).

Solaris is reshaping into a stronger, more resilient and agile organization that leads the market with innovative financial solutions. As part of this reorganization, the Solaris Management Board has taken the difficult decision to discontinue major parts of the EMI (formerly Contis) operations, which regrettably will bring redundancies across the EMI team.

Carsten Höltkemeyer, Solaris CEO said: “It's been a challenging period for the EMI business with difficult market conditions impacting on its ability to sign new businesses and grow revenues as expected. These factors, coupled with the loss of key partners and the profitability they provide, have made EMI operations unsustainable.
"Whilst this decision was extremely difficult to make and considered a last resort, it was necessary to ensure Solaris remains a resilient organization and focused on its path to achieving profitability. Solaris remains fully committed to its partner and regulatory requirements and will support all employees affected by these changes.