Santander Bank, N.A. (“Santander Bank” or “the Bank”) today announced that the Openbank digital bank platform topped $2 billion in total deposits* since going to market in the United States in the fourth quarter of 2024.
This achievement represents a significant milestone in the Santander US business strategy to efficiently boost national deposit acquisition that will fuel its leading Auto lending franchise and transform its Retail Bank. The business also launched a 2025 branding campaign, You’re Smart Like That, across out-of-home, digital and social channels.
The Retail Bank remains a priority for Santander US, with the goal of becoming a national, digital bank with branches. In 2025, the Bank will continue executing against the below strategic priorities to achieve its ambition.
Expand the Openbank digital platform: Building from the successful launch of the Openbank High Yield Savings account, the Openbank digital platform will begin offering additional digital capabilities and products, such as Certificates of Deposit (CDs), Payments and Checking Accounts, in 2025 and beyond.
Enhance bank branches: The Bank’s 2024 transformation efforts were well received, with increasing Net Promoter Scores, industry rankings and retail deposit growth.
“Our aim is to become a national, digital bank with branches and reaching this deposit milestone at record pace is a testament to our customer-obsessed mindset, commitment to innovation, and global connectivity. We are uniquely positioned to provide U.S. consumers with the digital banking experience of a FinTech and the strength and stability of a leading global bank.” – Swati Bhatia head of Retail Banking & Transformation for Santander Bank
Globally, Openbank is Santander’s digital-first banking platform. It is currently Europe’s largest 100% digital bank by deposits, with operations in four European countries (Spain, Germany, Portugal, and the Netherlands) and Mexico.
In the United States, Openbank is a division of Santander Bank, N.A., which is a Member of the FDIC. For more information about Openbank by Santander in the United States, including eligibility and how to open an account, please visit openbank.us.
*Funded deposits as of January 29, 2025.