German fintech Solaris to axe 20 per cent of 400-strong workforce, as becomes “AI-native bank"
German fintech Solaris is undergoing a significant restructuring, cutting 20% of its workforce to transition into an "AI-native bank." This strategic pivot aims to leverage artificial intelligence for increased automation across its operational processes and product offerings, marking a new phase for the Banking-as-a-Service (BaaS) provider. The move involves approximately 80 job losses from a team of around 400, following previous reductions and a rescue funding round. Solaris intends to deploy AI agents for operational tasks, with human oversight focused on control and governance. This repositioning signals a move away from its embedded finance platform focus towards developing data- and AI-driven financial services for its partners. This transformation positions Solaris to develop advanced financial services for partners like ADAC and Boerse Stuttgart Group. CEO Steffen Jentsch emphasizes this as a logical progression from its pioneering cloud-based banking via APIs, now seeking new growth through extensive AI integration in collaboration with investor SBI Group and regulatory authorities.
Curated and translated by Europe Digital for our multilingual European audience.
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