Santander to launch Openbank digital brand in US

In the second half of 2024, Santander will introduce a new nationwide digital offering in the US under the Openbank name. Within the same timeframe, Openbank is going to be launched in Mexico.

Openbank uses a technology platform that was created internally at Santander and combines functionality and design to offer a safe, straightforward, and foremost user experience. In addition, it provides a user-friendly interface with fintech pricing and the reliability of a multinational bank.

Over two million people use Openbank in Europe (Spain, Portugal, Germany, and the

Netherlands), and it has larger deposits than any other digital bank with €18bn ($19.5bn).

With the arrival of Openbank in the US, Santander is delivering a modern yet secure cloud-based banking platform for the first time by integrating all of its recognised proprietary technology. By creating deposits to support its auto franchise, Santander US will be able to move more quickly toward implementing its lucrative development plan due to the opening of Openbank.

Ana Botín, executive chair, stated: ‘‘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.’’

Moreover, champion golfer Jon Rahm represents Santander worldwide and is among the sport’s elite. During all contests, starting with the Masters in Augusta (USA), Rahm, and his team will wear shirts with the Openbank symbol. Born in Spain, Rahm is a sports person with a global following. He resides in the US and is highly influential globally, particularly in several of the bank’s major markets in the Americas and Europe. Given Santander’s substantial presence in North America, the golfer will aid the company and Openbank in raising their profile in the region.