Santander US Achieves $2 Billion In Deposits With Openbank Digital Platform
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Santander Bank shared that its Openbank digital platform in the United States has reached $2 billion in total deposits since it launched in late 2024. This milestone is a key part of Santander US’s plan to grow its national deposits, which will help strengthen its leading Auto lending services and reshape its Retail Bank.
The company also started a 2025 branding campaign named “You’re Smart Like That,” spreading the message through outdoor ads, digital platforms, and social media.
Santander US Focuses On Expanding Digital Services
Santander US emphasized that its Retail Bank is a top priority. It aims to become a national digital bank with physical branches. In 2025, the bank plans to focus on a few key goals to help reach this aim.
One of these goals is to grow the Openbank digital platform. After starting the Openbank High Yield Savings account, the bank said they will add more tools and products. In 2025 and after, they will offer Certificates of Deposit (CDs), payment services, and checking accounts.
Santander Bank also said its work to improve branches in 2024 worked well. This is shown by happier customers, better rankings, and more deposits.
Swati Bhatia, the head of Retail Banking & Transformation at Santander Bank, said they want to be a big digital bank with branches. She said reaching this deposit milestone fast shows the bank cares about its customers, loves new ideas, and has strong connections around the world.
She also said they can give U.S. customers a special digital banking experience like a tech company but with the strength and safety of a big global bank.
Openbank Expands Globally As Part Of Santander’s Digital Growth Strategy
Around the world, Openbank is Santander’s main digital banking platform. It’s currently the biggest fully digital bank by deposits in Europe, with operations in Spain, Germany, Portugal, the Netherlands, and Mexico.
In the United States, Openbank operates as part of Santander Bank, N.A., which is a member of the FDIC. For more details on Openbank by Santander in the U.S., including who can open an account and how to do it, the bank invited people to visit openbank.us.
Santander Bank, N.A. is an American bank fully owned by the Spanish Santander Group. Based in Boston, its main market is the northeastern U.S. The bank holds $57.5 billion in deposits, runs about 650 retail branches and over 2,000 ATMs, and employs roughly 9,800 people. It provides a wide range of financial services, including retail banking, mortgages, corporate banking, cash management, credit cards, capital markets, trust and wealth management, and insurance.
Sovereign Bank was rebranded to Santander Bank on October 17, 2013, and its naming rights for stadiums, arenas, and performing arts centers were also updated.
