Following this announcement, the new national, digital offering Openbank is expected to be launched in the United States under the Openbank brand in the second of 2024. According to the official press release, the Openbank will also be launched in the region of Mexico in the same timeframe.
More information on the announcement
Banco Santander represents a commercial bank that focuses on providing customers and partners in markets around the world with an optimised open financial services platform. In addition, the bank also provides individuals, small and medium-sized enterprises (SMEs), corporations, governments, and financial institutions with the possibility to accelerate their development process in a secure and efficient way.
Openbank was developed in order to operate with a technological platform, which was designed in-house at Santander in order to provide secure, simple, and efficient customer experiences. This process is set to take place by combining functionality and design, as well as to offer an intuitive user experience with fintech pricing and the overall trust of a global bank. In addition, Openbank serves multiple customers and clients across several geographic regions around Europe, such as Spain, Portugal, Germany, and the Netherlands.
The rollout of Openbank in the US market is expected to give Santander the possibility to combine all its core, safe, and proprietary technology in order to deliver an improved and secure cloud-based banking platform. The launch is also set to accelerate the overall Santander US execution against its profitable development and growth plan, while also generating deposits to fund its out franchise and expand in other geographic areas as well.
Santander is expected to remain committed to the process of developing its business in the region of the United States, while also leveraging its proprietary technology and global expertise in order to deliver a secure and optimise customer experience. The company is set to focus on meeting the needs, preferences, and demands of clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
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