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LAST UPDATE: 21/10/2024
Innovation and top-tier technology are the two key elements that define Openbank, Santander’s digital first banking platform.
Since its relaunch in 2017, Openbank has grown to become Europe’s largest digital bank by deposit volume expanding across four European countries (Spain, Germany, Portugal, The Netherlands) and the United States and México.
Openbank represents Santander’s commitment to bringing the latest advances to its customers. Openbank was completely redesigned in 2017 with its own technology and is now 100% hosted in the cloud with an award-winning banking platform.
Today, Openbank continues to reinvent itself by developing products and services with cutting-edge technology. For example, Openbank in Europe offers its customers an easier way to invest using its Roboadvisor platform as well as using artificial intelligence-based tools that provide more information to clients when saving and investing.
In 2021 and 2023 Openbank was the most recommended bank by its customers in its main market.
An international bank with global ambitions
This drive for innovation and technology has not only improved customer service and user experience but also facilitated Openbank's rapid international expansion. Since 2020, it has launched in Germany, Portugal, and the Netherlands, with a common technological platform for all European countries, and will expand to Mexico and the United States by the end of 2024.
This expansion has allowed Openbank to double its customer base in just five years, becoming the largest digital bank by deposit volume, with nearly €20 billion.
The launch of Openbank in the U.S. marks a significant milestone in our group’s transformation. Openbank reflects our belief that to be the best for both our customers and shareholders, deploying our own core and front-end cloud-based technology globally is essential and will deliver sustainable competitive advantage. The U.S. is a key market for us, where we have been expanding our business over the past years. Openbank is banking made easy and will offer the best high yield savings accounts in America that is simple and fast with a competitive rate, and built by Santander, a bank that has the trust of 168 million customers.