Banco Santander S A : Santander to introduce Openbank in US

Openbank is Europe's largest 100% digital bank by deposits, with €18 billion.

Jon Rahm, one of the world's best golfers and Santander's global ambassador, will wear an Openbank logo on his shirt during all competitions beginning at the Masters in Augusta (USA).

Madrid, April 9, 2024.
Santander is announcing today 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 best-in-class customer experience by combining functionality and design. It also offers an intuitive user experience with fintech pricing and the trust of a global bank. Today, Openbank serves more than two million customers across Europe (Spain, Portugal, Germany and the Netherlands), and has €18 billion in deposits, more than any other digital bank on the continent.

The rollout of Openbank in the US market marks the first time Santander combines all its core, award-winning 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, Banco Santander's executive chair, 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."

Jon Rahm is one of the world's best golfers and Santander's global ambassador. He and his team will wear an Openbank logo on their shirt during all competitions beginning at the Masters in Augusta (USA). Rahm is a global sporting superstar, who was born in Spain, lives in the US and has worldwide impact, especially in some of the bank's core markets in the Americas and Europe. The golfer will help Santander and Openbank increase their visibility in North America, where Santander has a significant presence.

Banco Santander (SAN SM, STD US, BNC LN) is a leading commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank's purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2023, Banco Santander had €1.3 trillion in total funds, 165 million customers, 8,500 branches and over 212,000 employees.