Openbank launches in Mexico

Following this announcement, the bank will be running across all of Mexico, with a compressive and secure suite of everyday banking products, including interest-bearing accounts, debit and credit cards, as well as cash withdrawals at 10.000 Santander ATMs. 

In addition, clients will have the possibility to sign up quickly and benefit from a fully digital proposition with no fees, and the secure backing of Santander. The bank will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.

More information on Openbank’s launch in Mexico

With its fully digital proposition, Openbank’s model was developed in order to combine the benefits of a fintech with a broad range of products that meet core financial needs, a 24/7 customer service line, and a network of multiple ATMs countrywide. Its technology platform was also designed in order to optimise the manner in which institutions manage day-to-day finances, and its efficient structure enables it to offer competitive savings products and loans with the guarantee of a bank that’s part of Grupo Santander.

Throughout this initiative, Openbank is expected to boost Grupo Santander’s retail business in the region of Mexico by providing customers and partners with access to a simple and secure platform that was developed with optimised technology. At the same time, users will also get 3% cash back on online credit card purchases, while having the possibility to defer payments for three months interest-free as well.

The customer experience in Mexico is set to include free features to optimise card security by configuring use based on location, transaction, and merchant type. That way, clients will be enabled to choose when and where to use their cards. At the same time, Openbank Mexico will add new products and services to its offering in the following months.