Solaris, one of Germany's most high-profile fintechs in recent years, is cutting 20% of its workforce, which equates to around 80 roles out of approximately 400 employees. This move is part of a broader corporate restructuring, with the aim of becoming an "AI-native bank".

Reorganization and Strategy

The decision comes after previous job cuts, a write-down, and a rescue funding round by Japan's SBI Group. The new CEO, Steffen Jentsch, is repositioning Solaris, transforming it from an embedded finance platform into an AI-focused entity.

Automation and AI

Solaris aims to increase automation across all its processes and products. The company plans to use AI agents to handle operational processes, while human staff will retain responsibility for control and governance. Solaris is developing data- and AI-driven financial services for its partners, including ADAC and Boerse Stuttgart Group.

Future Vision

Steffen Jentsch stated: "Ten years ago, Solaris was one of the first companies in Europe to prove that cloud-based banking via APIs works. Today, we are taking the next logical step. Together with SBI and in close dialogue with the regulatory authorities, we are developing Solaris into an AI-native bank and creating new growth through the broad use of artificial intelligence in banking."