Santander Bank officially launched Openbank, a new digital banking platform. With the launch of Openbank, Santander aims to expand its addressable market in the United States.
“Openbank brings to life our strategy to build a digital bank with branches to accelerate growth and provide easy access to high yield savings accounts for U.S. customers nationwide,” Tim Wennes, CEO of Santander U.S., said. “The early results for Openbank have been strong, and we expect our new customers will find Openbank to be a seamless and easy digital experience, backed by one of the world’s largest financial services companies with 171 million customers around the globe.”
“High yield savings accounts are only the beginning, as we introduce Openbank to customers across the U.S. outside our historic footprint in the Northeast,” Swati Bhatia, head of retail banking and transformation of Santander Bank, said. “At Santander, consumer banking is in our DNA. Operating a digital consumer bank within a global consumer bank allows us to innovate faster like a fintech and introduce new products in a matter of months, not years.”
