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APIs · head to head

MX Technologies vs Solaris

MX Technologies logo

MX Technologies

APIs

US financial data aggregation with heavy transaction cleansing and enrichment

From
On request
Rated
-
Full reviewWebsite
Solaris logo

Solaris

APIs

German banking as a service with a full banking licence and a live regulatory problem

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: MX Technologies coverage is United States focused, so any product with European or other international users runs a second aggregator and reconciles two data models, which removes most of the single vendor argument.; Solaris baFin appointed a special representative in 2022 and extended the mandate in July 2024, so a partner is joining a bank under active supervisory monitoring, with slower approvals and heavier compliance demands as a direct consequence.
  • They diverge on capability: MX Technologies covers Account aggregation, Solaris covers German banking licence.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which MX Technologies and Solaris actually diverge.

Attributes where MX Technologies and Solaris differ
AttributeMX TechnologiesSolaris
PlatformsAPI, WebWeb, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in MX Technologies

  • Account aggregation
  • Transaction cleansing
  • Categorisation
  • Merchant resolution
  • Account verification
  • Balance and funds checks
  • Data enhancement APIs
  • Consent and connection management

Only in Solaris

  • German banking licence
  • IBAN accounts
  • Card issuing
  • Lending as a service
  • Digital assets and custody
  • SEPA payments
  • KYC and onboarding
  • Deposit protection

What people use each for

The jobs each tool is most often brought in to do.

MX Technologies

  • A credit union building a personal finance view in its own app that needs its own transaction descriptions made readablenot Solaris
  • A lender using cash flow underwriting that needs categorised income and expense data rather than raw transaction stringsnot Solaris
  • A bank wanting account verification and balance checks before initiating ACH debits to reduce returnsnot Solaris
  • A fintech that already aggregates data elsewhere and licenses only the enrichment layer to clean what it hasnot Solaris

Solaris

  • A retailer or platform launching a German current account or card product without applying for its own licencenot MX Technologies
  • A fintech that needs deposit taking and lending, which an e-money licence cannot providenot MX Technologies
  • A European business needing German IBANs because customers reject foreign IBANs for salary and direct debitnot MX Technologies
  • A company requiring German statutory deposit protection on customer balances as a product claimnot MX Technologies

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

MX Technologies

  • Coverage is United States focused, so any product with European or other international users runs a second aggregator and reconciles two data models, which removes most of the single vendor argument.
  • Nothing is published on price and contracts are enterprise shaped, so a small fintech cannot estimate cost or start building without a sales process, unlike self-serve competitors.
  • Data enhancement is the differentiator and is licensed separately from aggregation, so the quoted aggregation price is not the price of the product people actually buy it for.
  • Categorisation and merchant resolution are statistical and get business to business and unusual transactions wrong more often than consumer retail, so lending decisions built on categorised data need their own review layer.
  • As the United States moves to regulated API access, connection quality depends on what each institution exposes, and the long tail of small banks and credit unions remains the weakest part of any aggregator including this one.

Solaris

  • BaFin appointed a special representative in 2022 and extended the mandate in July 2024, so a partner is joining a bank under active supervisory monitoring, with slower approvals and heavier compliance demands as a direct consequence.
  • BaFin fined Solaris EUR 6.5 million in March 2024 for systematically late suspicious activity reports and EUR 500,000 for breaching large exposure limits between January 2022 and March 2024, which is a track record a partner inherits reputationally.
  • Solaris has previously needed BaFin approval before onboarding new corporate clients, which can turn a commercial decision to launch into a regulatory timetable outside your control.
  • The 2024 restructuring involved job cuts and the closure of parts of a business unit, so product lines a partner depends on may not have the engineering behind them that the sales process implies.
  • SBI Holdings acquired majority control in 2025, so strategic direction now sits with a Japanese financial group whose priorities for the European business may differ from the roadmap you were sold.

Pricing, plan by plan

MX Technologies

On request
  • MX Platform$undefined/year
    • Priced by connected users, API calls and modules
    • Data enhancement licensed separately from aggregation
    • Enterprise contracts aimed at financial institutions

Solaris

On request
  • Solaris banking as a service$undefined/year
    • Quoted per partner, typically setup fee plus monthly platform fee
    • Per account, per card and per transaction charges on top
    • Interchange sharing arrangements negotiated per programme

Which should you pick?

Choose MX Technologies if

  • You need account aggregation.
  • You work on API, Web.
  • You also want transaction cleansing.
MX Technologies review

Choose Solaris if

  • You need german banking licence.
  • You work on Web, API.
  • You also want iban accounts.
Solaris review

Questions people ask

Is MX Technologies or Solaris better?
Neither clearly leads. MX Technologies starts at On request and Solaris at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, MX Technologies or Solaris?
MX Technologies starts at On request and Solaris at On request.
Does MX Technologies or Solaris run on more platforms?
MX Technologies runs on API, Web. Solaris runs on Web, API.
What is MX Technologies best used for?
MX Technologies is most often used for a credit union building a personal finance view in its own app that needs its own transaction descriptions made readable, a lender using cash flow underwriting that needs categorised income and expense data rather than raw transaction strings, a bank wanting account verification and balance checks before initiating ach debits to reduce returns, a fintech that already aggregates data elsewhere and licenses only the enrichment layer to clean what it has. Of those, a credit union building a personal finance view in its own app that needs its own transaction descriptions made readable and a lender using cash flow underwriting that needs categorised income and expense data rather than raw transaction strings are not what Solaris is typically brought in for.
What can MX Technologies do that Solaris cannot?
MX Technologies covers Account aggregation, Transaction cleansing, Categorisation, Merchant resolution. Solaris covers German banking licence, IBAN accounts, Card issuing, Lending as a service.

Answered from the vendors’ own pages

MX Technologies: What does MX do that Plaid does not?

It sells transaction cleansing, categorisation and merchant resolution as a first class product, including on data you already hold, which is why financial institutions rather than startups are its core customers.

Solaris: Does Solaris have a real banking licence?

Yes. Solaris SE is a German credit institution, which is why it can offer deposits and lending, unlike e-money based competitors.

MX Technologies: Does it cover Europe?

No. MX is United States focused. European coverage requires a different provider such as Tink.

Solaris: Is the BaFin action still live?

The special representative appointed in 2022 had the mandate extended in July 2024, and fines were issued in March 2024. Treat supervisory oversight as an active condition in your diligence.

MX Technologies: Is pricing published?

No. Contracts are quoted by connected users, call volume and modules, with enhancement licensed separately from aggregation.

Solaris: Who owns Solaris now?

SBI Holdings of Japan agreed in December 2024 and January 2025 to take a majority stake of over seventy per cent for around EUR 100 million.

MX Technologies: Does it use screen scraping?

It uses direct bank APIs where institutions expose them and credential based connections elsewhere. The credential path is being deprecated across the industry, and coverage quality now tracks which banks have real APIs.

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