Santander Bank expands borders in the United States, and does so with an important commitment to grow in the retail and consumer business. Specifically, the financial institution announced the launch of Openbank in this region. In this way, as the company explained, it allows it to provide service for the first time to individual clients throughout the country and expand beyond its branch network established, until now, in the northeast of the United States.
Following this announcement, and through the Openbank brand, Santander will offer US customers “high-yield savings products” through an intuitive, agile and secure customer experience. More products will be launched throughout 2025, allowing Openbank to offer a complete banking service in the United States, as it already does in Europe.
The launch of Openbank in the United States, which was announced by the company itself last spring, means «an important milestone in the group’s transformationsince it is based on a platform built on technology owned by Santander that is implemented throughout the world.
The banking entity explained that this platform integrates a core banking infrastructure with a customer interface and front-end data that allows, among other things, to open an account through the Openbank website or application in just a few clicks. five minutes.
The brand aims to accelerate the execution of Santander’s growth strategy in the United States by attracting deposits to provide liquidity to its automobile financing business.
According to the president of the entity, Ana Botín, «The launch of Openbank in the United States marks a significant milestone in the group’s transformation». The side’s top executive explains that the brand “reflects our belief that the way to provide the greatest value to our clients and shareholders is by deploying our own cloud-based technology globally because it gives us a competitive and sustainable advantage.”
For his part, the global CEO of Openbank, Petri Nikkilä, assures that his firm is “one of the most advanced digital banks in Europe, with a complete value proposition that has been successfully tested in several markets. Our goal is to offer American customers the best savings account through a digital service that is fast, simple, with high profitability and the best customer experience anytime, anywhere.”
Customers for whom this service is intended in the United States can now access Openbank’s offer through its website and app. Santander is one of the largest banks in the world by number of clients: it serves 168 million people and companies in Europe and America. It is also one of the largest banks in the world by deposits, with $1.3 trillion in customer resources.
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