ConnectPay Opens AWS-Native Core Banking Engine Serdis to Outside Institutions
ConnectPay Opens AWS-Native Core Banking Engine Serdis to Outside Institutions #
Lithuanian electronic money institution ConnectPay is opening its proprietary core banking system, Serdis, as a commercial product available to other EMIs and financial institutions across Europe, adding a technology vendor role to its existing payments business.
The company spent years building the platform to run its own operations before deciding to offer it externally. ConnectPay says Serdis is built natively on Amazon Web Services and gives financial institutions direct control over their own infrastructure, with migrations designed to avoid disrupting ongoing operations.
FF News described the product as “built by an EMI for EMIs,” reflecting ConnectPay’s pitch that Serdis was tested under real operating conditions. The company says it has processed more than €14 billion through the platform, a figure it presents as evidence of the system’s reliability for prospective clients considering a switch from existing core banking vendors.
The European core banking market includes established vendors such as Mambu, Tuum, and Thought Machine, all competing for EMI and challenger bank clients. ConnectPay positions Serdis as having been used by a regulated, live institution rather than built as a commercial product from the outset, which it argues gives it operational credibility that purpose-built vendor platforms may not have.
For ConnectPay, licensing Serdis adds a revenue stream beyond its existing embedded finance and banking-as-a-service offerings. The company is regulated as an EMI by the Central Bank of Lithuania and holds ISO/IEC 27001 and ISO 22301 certifications, which it says can be provided as third-party assurances to Serdis clients alongside the software.
The launch comes as European payment service providers face an EU mandate requiring all PSPs to support instant payments by the end of 2025. ConnectPay is marketing Serdis as an alternative to legacy or outsourced core systems, arguing that in-house infrastructure ownership gives institutions better control over uptime, data sovereignty, and product development, particularly for EMIs looking to reduce reliance on external technology providers.
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