Solaris Cuts 80 Jobs Amid Transformation Into ‘AI-Native Bank’

Core Insights - Solaris, a German embedded finance platform, is reducing its workforce by 20%, equating to approximately 80 roles out of 400, as part of its transformation into an "AI-native bank" [1][2] - The restructuring follows previous job cuts, a write-down, and a rescue funding round led by Japanese investor SBI Group in November 2024 [2] - CEO Steffen Jentsch acknowledged the difficult decision to part ways with valued colleagues but did not specify the number of layoffs [3] Company Strategy - Solaris aims to evolve into an "AI-native bank" by expanding its embedded finance platform into a pan-European financial infrastructure, largely automated by artificial intelligence [7][8] - The company plans to utilize AI agents for operational processes while maintaining human oversight for control and governance [7] - This initiative builds on Solaris' existing German full banking license, API-based platform, and a decade of experience in the banking-as-a-service (BaaS) market, supported by SBI Group [8] Regulatory Context - The transformation aligns with the regulatory framework being established in Europe, including the EU AI Act and the Digital Operational Resilience Act (DORA), which are seen as essential for the shift towards an AI-native banking model [9] - SBI Holdings' leadership emphasizes that this transition positions Solaris as a key platform for realizing a digital financial infrastructure in Europe [9]