Santander Bank, N.A. (NYSE: SAN) announced that the Openbank digital bank platform topped $2 billion in total deposits since going to market in the United States in the fourth quarter of 2024.
This achievement is said to represent a key milestone in the Santander US business strategy to “efficiently boost national deposit acquisition that will fuel its leading Auto lending franchise and transform its Retail Bank.”
The business also launched a 2025 branding campaign, You’re Smart Like That, across “out-of-home,” digital and social channels.
The Retail Bank remains a “priority” for Santander US, with the goal of becoming a “national, digital bank with branches.”
In 2025, the Bank will continue executing “against the below strategic priorities to achieve its ambition.”
Their aim is to become a national, digital bank with branches and reaching this “deposit milestone at record pace is a testament to our customer-obsessed mindset, commitment to innovation, and global connectivity.”
They are positioned to provide U.S. consumers with the digital banking experience of a FinTech and the “strength and stability of a leading global bank.”
Globally, Openbank is Santander’s “digital-first” banking platform.
It is currently Europe’s “largest” 100% digital bank by deposits, with operations in four European countries (Spain, Germany, Portugal, and the Netherlands) and Mexico.
In the United States, Openbank is “a division of Santander Bank, N.A., which is a Member of the FDIC.”
As covered, Santander has recently announced U.S. equity research alliances with Telsey Advisory Group and Vertical Research Partners.
These alliances expand Santander Corporate and Investment Banking’s research capabilities in the United States, complementing the Group’s market position in Europe and Latin America.
Santander Corporate & Investment Banking (Santander CIB) announced today that its U.S. broker-dealer Santander US Capital Markets LLC has entered into alliances with equity research firms Telsey Advisory Group LLC (TAG) and Vertical Research Partners LLC (VRP).
TAG and VRP are said to be recognized sector participants with established track records, “highly regarded” analysts and “clear visions” for expansion.
TAG is reportedly a prominent equity research firm with a “strong” institutional equity sales and agency trading platform “focused on the Retail & Consumer and E-commerce sectors, covering close to 100 companies.”
VRP is an equity research firm focused “on the Industrials & Materials sectors, covering over 120 companies.”