Events are currently happening at Solarisbank: the fintech only laid off almost ten percent of its employees at the end of 2022, and the financial regulator Bafin is now tightening control over the company.

As the designated boss Carsten Höltkemeyer confirmed to the “Handelsblatt”, Solaris must “get the green light before we can take on new customers”. However, this requirement should have no effect on existing customers.

Such a regulation is extremely unusual in the banking sector. However, it makes it clear that the Bafin continues to see many weak points at Solarisbank.

The Solarisbank has been observed more closely by the financial regulator for a long time. Serious deficiencies were identified as early as 2020. Apparently, there were often problems with money laundering and customer screening. At that time, a special auditor was therefore sent.

Höltkemeyer currently does not assume that the banking business will be “noticeably restricted” by the condition. It is currently unclear how long the measures will last.

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