Solaris Banking License
Full banking or electronic money license: What are the differences?
Solaris is fully licensed for seamless banking across Europe and EEA countries.
We obtained a full German banking license (CRR) in 2017, making it the first completely cloud-based Banking-as-a-Service provider in Germany.
Discover how our setup compares to an EMI license and what our partners gain from it.
What is a full banking license?
A full banking license – also known as a CRR credit institution license – grants official permission to operate a credit institution or a bank-like entity.
Holding a full banking license ensures that a financial institution meets all legal requirements to protect customer assets and data while complying with strict government regulations.
Any entity wishing to conduct banking operations in Europe must obtain a license from a European financial supervisory authority. The institution must fulfill rigorous criteria, including maintaining financial reserves and secure data infrastructure.
A CRR license offers significantly broader capabilities than an E-Money Institution (EMI) license, including full deposit-taking and lending services—ensuring greater flexibility, scalability, and financial security.
What is an e-money license?
E-money license is colloquially used as a synonym for EMI. An electronic money institution license is the official permission granted to an institution by the financial supervisory authorities, allowing it to conduct financial transactions through the disbursement of electronic money.
Electronic money, also known as e-money, is subject to banking supervision law because it acts as a digital equivalent of cash. As the officially recognized equivalent of a country's official currency, it offers users binding legal security standards.
E-money is stored in EMI or bank computer systems to facilitate electronic transactions.
A permission to operate an e-money business granted in one European country can also be used for business operations in all other countries of the European Union.