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APIs · head to head

Solaris vs Vodeno

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
Vodeno logo

Vodeno

APIs

Banking-as-a-service platform running on a partner bank licence, backing NatWest's UK BaaS venture

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: 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.; Vodeno its actual regulatory backing differs by geography, Aion Bank in continental Europe versus NatWest in the UK, so a customer must understand which entity and licence they are actually contracting under rather than assuming one uniform Vodeno product.
  • They diverge on capability: Solaris covers German banking licence, Vodeno covers Core banking infrastructure.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Solaris and Vodeno actually diverge.

Attributes where Solaris and Vodeno differ
AttributeSolarisVodeno

Identical on both: starting price (On request), pricing model (quote), free tier (No), platforms (Web, API), 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 Solaris

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

Only in Vodeno

  • Core banking infrastructure
  • Card issuance via Mastercard
  • Lending and BNPL modules
  • White-label mobile apps
  • Digital onboarding and compliance
  • UK entity backed by NatWest

What people use each for

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

Solaris

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

Vodeno

  • A European retailer or e-commerce business wanting to embed savings, lending or BNPL products under its own brandnot Solaris
  • A UK business wanting banking-as-a-service backed specifically by NatWest's banking technology and licencenot Solaris
  • A fintech wanting white-label mobile banking app infrastructure rather than building its own from scratchnot Solaris
  • A company comparing banking-as-a-service providers that want to understand which underlying bank licence actually backs the product in their marketnot Solaris

Where each one falls short

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

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.

Vodeno

  • Its actual regulatory backing differs by geography, Aion Bank in continental Europe versus NatWest in the UK, so a customer must understand which entity and licence they are actually contracting under rather than assuming one uniform Vodeno product.
  • Pricing is entirely unpublished across both the European and UK businesses.
  • The scale of NatWest's investment (up to roughly £120 million) signals a business still working toward profitability, with NatWest itself targeting breakeven within five years of the venture launching, which is a meaningful timeline risk for a customer building long-term infrastructure dependency on it.
  • As banking-as-a-service infrastructure, any customer remains dependent on Vodeno's underlying bank partner maintaining its own licence and risk appetite, which is a layer of dependency beyond Vodeno's own commercial terms.
  • Product scope, such as lending and BNPL availability, may differ between the UK and European entities, so a company operating in both markets should not assume identical capability across the two.

Pricing, plan by plan

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

Vodeno

On request
  • Vodeno$undefined/year
    • Platform licensing fee, not published
    • Terms differ between the European (Aion Bank) and UK (NatWest) entities

Which should you pick?

Choose Solaris if

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

Choose Vodeno if

  • You need core banking infrastructure.
  • You work on Web, API.
  • You also want card issuance via mastercard.
Vodeno review

Questions people ask

Is Solaris or Vodeno better?
Neither clearly leads. Solaris starts at On request and Vodeno at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Solaris or Vodeno?
Solaris starts at On request and Vodeno at On request.
Does Solaris or Vodeno run on more platforms?
Both run on Web, API, so platform support will not decide this one for you.
What is Solaris best used for?
Solaris is most often used for a retailer or platform launching a german current account or card product without applying for its own licence, a fintech that needs deposit taking and lending, which an e-money licence cannot provide, a european business needing german ibans because customers reject foreign ibans for salary and direct debit, a company requiring german statutory deposit protection on customer balances as a product claim. Of those, a retailer or platform launching a german current account or card product without applying for its own licence and a fintech that needs deposit taking and lending, which an e-money licence cannot provide are not what Vodeno is typically brought in for.
What can Solaris do that Vodeno cannot?
Solaris covers German banking licence, IBAN accounts, Card issuing, Lending as a service. Vodeno covers Core banking infrastructure, Card issuance via Mastercard, Lending and BNPL modules, White-label mobile apps.

Answered from the vendors’ own pages

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.

Vodeno: Does Vodeno hold its own banking licence?

No, it operates through partner banks, Aion Bank in continental Europe and NatWest in the UK.

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.

Vodeno: Is the UK business the same as the European business?

They are related but distinct entities backed by different bank partners, with different investment structures.

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.

Vodeno: How much has NatWest invested?

A capped commitment of up to roughly £120 million into the UK entity, plus a separate roughly €58 million investment in Vodeno Group for an 18% stake.

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