Santander is merging its Openbank digital brand with its consumer finance division across Europe, aiming to streamline operations.
The bank plans to establish a unified legal entity, gradually transitioning its European consumer finance activities under the Openbank brand, beginning in Germany. Openbank serves as Santander’s premier brand for digital consumer banking, already active in Spain, Germany, Portugal, and the Netherlands. Recently, it has also expanded its presence to the U.S. and Mexico.
This integration is designed to provide customers with a wider selection of products through a cohesive digital platform, allowing for a single access point for banking, lending, and payment solutions. Nitin Prabhu, Global Head of Santander Digital Consumer Bank, emphasized, “By harnessing Openbank’s cutting-edge technology alongside Santander’s expertise in consumer finance, we are building a more efficient and innovative digital-first bank that is poised for future growth.”