Santander’s digital bank Openbank starts operations in Argentina
Openbank, Santander’s 100% digital bank, has landed in Argentina. After several months of allowing certain users to test its new platform, it is now giving every customer access to all the features and products it is offering in this new market.
Argentina marks the bank’s first undertaking in the Americas. It is also the fifth country where it will set up operations after having established itself in Germany, Portugal and the Netherlands in recent years and in Spain for 27 years.
With more than 1.7 million customers across the globe, Openbank ended its best year ever upon increasing its customer base outside Spain by 83%. In Argentina, it will start rolling out products and services initially with savings and salary accounts, plus debit cards that will enable customers to perform usual transactions fast, easily and securely all over the world. It will also give customers access to Debin, an instant money transfer system (like Bizum but in Argentine pesos and US dollars) for individuals.
Customers can sign up for any account or product in a matter of minutes via the bank’s mobile app, website or call centre (open 24/7) in a totally digital process. Openbank will add to its product catalogue in the coming months.
Openbank CEO Ezequiel Szafir commented:
“Arriving in Argentina marks a new milestone in our expansion into a new region. The challenge will enable Openbank to grow profitably and sustainably while diversifying its business geographically. We will do so thanks to a fully digital banking model that utilizes big data and artificial intelligence to make every customer’s experience better and more personal”.
Openbank Argentina CEO Federico Procaccini added:
“We’re very proud to kick off the bank’s launch in Argentina. We’ve put a lot of time, energy and effort into this project, and we expect to give our customers a world-class experience on our digital banking platform to which we’ll continue to add products and features in the months to come”.