Santander commits to US growth with plans to launch Openbank

American flag on flagpole waving in the wind against clouds, blue sky and the moon.
Image courtesy of Pamela Au via

Santander has revealed plans to launch a new national, digital offering under the Openbank brand in the US and Mexico in the second half of 2024.

The launch will see Openbank, which serves more than two million customers across Europe, available in the US and Mexico later this year, marking the first time that Santander will combine all its core, proprietary technology to deliver a cloud-based banking platform.

Openbank aims to provide a secure, easy and simple customer experience, offering an intuitive user experience with fintech pricing and the trust of a global bank. Across Europe, it has €18bn in deposits, more than any other digital bank on the continent.

Ana Botín, Executive Chair of Santander Group, commented: “Openbank is the largest digital bank in Europe by deposits with among the highest customer loyalty and satisfaction.”

Santander US will use its launch to accelerate its profitable growth strategy, looking to generate deposits to fund its leading auto franchise.

Botín added: “We remain committed to growing our business in the US, the largest financial services market in the world, leveraging our proprietary technology and global expertise to deliver a winning customer experience.”

To celebrate the planned launch, Golfer and Santander Ambassador Jon Rahm will wear  the Openbank logo on his shirt alongside his team during all competitions beginning at the Masters in Augusta, Georgia .

Openbank has used sports to increase visibility before, partnering with the tennis competition the Madrid Open in 2021, which saw the bank become the official sponsor of the tournament.