Santander has launched its Openbank digital offering across the United States, taking its presence in the country nationwide.
Spanish giant Santander has an established branch network in the US Northeast but Openbank brings it coast-to-coast, initially offering a high yield savings product, with further offerings to follow in 2025.
Openbank - already operating in Spain, Germany, Portugal, and the Netherlands - uses a proprietary cloud-based in-house-built platform that Santander plans to roll out across all its global consumer businesses.
The platform integrates the bank’s core banking infrastructure with a front-end customer and data layer that enables, among many other benefits, an account to be opened via the Openbank app or website in as little as five minutes.
Ana Botín, executive chairman, Banco Santander, says: “The launch of Openbank in the US marks a significant milestone in our group’s transformation."