Poland-based Alior Bank has unveiled plans to collaborate with solarisBank, Raisin and Mastercard to establish a pan-European digital bank.
The solarisBank is a Berlin-based banking platform, while Raisin is an European provider of simple saving and investment solutions, and Mastercard is a global payments and technology services firm.
Alior Bank FinTech head Daniel Daszkiewicz said: “Thanks to this platform, customers will be able to access the best of each collaborator’s offer in a fast and efficient way. For example, a customer in Germany, while opening an account with solarisBank, will instantaneously gain access to a multicurrency account with Alior Bank and to Raisin’s savings products.”
Expected to be launched in the fourth quarter of this year, the new digital banking platform will use the expertise of all partners.
For the digital bank, Alior Bank will offer multicurrency accounts with international transfers and deposits.
The solarisBank will provide banking infrastructure, including technological, compliance and regulatory framework.
Via its network of partner banks, Raisin will add various savings and investment possibilities to the banking platform.
Mastercard’s Benefit Optimization programme will be used to provide customers with additional value-added services.
Focusing on the German market during the first phase of the project, the product will be available for all EU residents.
soarisBank co-founder and CCO Mark Wenthin said: “The new platform – for which solarisBank will provide the infrastructure for accounts and transactions – is an exciting step to build a digital, financial ecosystem for Europe.
“Moreover, this partnership with such an innovative financial institution proves to us the success of our banking-as-a-platform approach.”
Alior Bank serves more than four million clients, including over 180 thousand businesses, while solarisBank is a banking platform with a full banking license that allows firms to offer their own financial products.
Through APIs, the partners can access solarisBank’s modular services, including ayments and e-money, lending, digital banking, and services provided by integrated third party providers.