Santander Bank, N.A. has announced that its digital platform, Openbank, has reached $2 billion in total deposits in the United States since its launch in the fourth quarter of 2024. This development is a part of Santander's strategy to enhance national deposit acquisition to support its Auto lending franchise and Retail Bank transformation. Additionally, the bank has initiated a 2025 branding campaign titled "You're Smart Like That," utilizing various media channels.
Santander US is focusing on expanding its Retail Bank with the aim of establishing a national presence as a digital bank with physical branches. In 2025, it plans to further develop the Openbank digital platform by introducing new products such as Certificates of Deposit (CDs), Payments, and Checking Accounts.
The bank also aims to improve its branch services following successful transformation efforts in 2024 that led to higher Net Promoter Scores and retail deposit growth.
Openbank is Santander's digital-first banking platform and holds the position as Europe's largest fully digital bank by deposits. It operates in Spain, Germany, Portugal, the Netherlands, and Mexico.
In the U.S., Openbank functions under Santander Bank, N.A., which is an FDIC member. More information about Openbank's offerings can be found at openbank.us.