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Fintech Nexus E-newsletter (April 10, 2024): Santander to launch digital financial institution within the US and Mexico in 2024

We realized a few weeks again that the previous head of Marcus, Swati Bhatia, had taken a job at Santander to steer U.S. shopper and enterprise banking.

Yesterday, we realized extra particulars about what this new job goes to ivolve.

Santander introduced that it’s going to deliver its European digital financial institution, Openbank, to the U.S. and Mexico with an anticipated launch within the second half of this yr. Now, the transfer by Bhatia makes good sense.

She is a superb option to run the brand new digital financial institution given her expertise at Marcus, to not point out her time at Stripe and PayPal. 

For these of you not following the European banking market, Openbank is the most important digital banking model in Europe by way of property, with €18 billion in deposits throughout Spain, Portugal, Germany and the Netherlands.

The financial institution will face stiff competitors within the U.S. from each fintechs and conventional banks, together with others which have made the soar from the UK and Europe.

If you’re a golf fan, defending Masters Champion Jon Rahm is Santander’s world ambassador and can be sporting the Openbank brand on his shirt this week in Augusta.

> Santander to Launch Openbank Digital Financial institution in US, Mexico


Santander will launch its digital financial institution, Openbank, in the USA and Mexico within the second half of 2024.

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  • Peter RentonPeter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm targeted on fintech. Peter has been writing about fintech since 2010 and he’s the creator and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview collection.

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