Santander to launch Openbank digital brand in US

By Delisha Fernandes

Santander has announced the launch of a new national, digital offering in the United States under the Openbank brand in the second half of 2024. Openbank will also be launched in Mexico in the same timeframe.

Openbank operates with a technological platform designed in-house at Santander that provides secure, easy and simple customer experience by combining functionality and design.

It also offers an intuitive user experience with FinTech pricing and the trust of a global bank. Openbank serves more than two million customers across Europe (Spain, Portugal, Germany and the Netherlands), and has €18 billion in deposits.

The rollout of Openbank in the US market marks the first time Santander combines all its core, proprietary technology to deliver an innovative and secure cloud-based banking platform. The Openbank launch will accelerate Santander US’ execution against its profitable growth strategy, generating deposits to fund its leading auto franchise.

Ana Botín, executive chair at Banco Santander, said, “Openbank is the largest digital bank in Europe by deposits with among the highest customer loyalty and satisfaction. We remain committed to growing our business in the United States, the largest financial services market in the world, leveraging our proprietary technology and global expertise to deliver a winning customer experience. ”