Openbank is looking for clients in Mexico and has opened a waiting list

Openbank, Santander’s digital bank, is ready to make a significant move in Mexico. Since last Tuesday, it has opened a waiting list on its website for interested individuals to register and be among the first to access its services when it launches later this year.

This strategy marks a milestone in the bank’s international expansion, where it already holds a prominent position in Europe.

“Openbank Mexico has opened a waiting list on its website so that those who want early access to this new bank’s offerings can register and be among the first to experience this digital service,” the institution stated in an official communication.

Openbank received approval from the National Banking and Securities Commission (CNBV) in July 2023, allowing it to begin its establishment as a bank in Mexico.

To sign up, individuals interested in becoming clients will need to provide their name and email address to receive updates about the launch and a personalized invitation to download the app early.

According to Santander’s official announcement, waiting lists are a common process for Openbank when entering new markets. This process follows initial tests with a small group of clients, initially limited to employees, friends, and family.

With its launch in Mexico, the digital bank aims to replicate its success in Europe, where it is recognized as the largest digital bank with deposits totaling €18 billion.

Unlike Sofipos, which have limited operations and focus on a smaller number of clients, Openbank holds a banking license.

Openbank also seeks international expansion.

It is not only targeting clients in Mexico but is also looking to grow in the U.S. market.

Jon Rahm, one of the world’s top golfers and a global ambassador for Santander, has begun sporting the Openbank brand on his shirt at all tournaments since the Masters in Augusta, which took place in April.

“Openbank is the largest digital bank in Europe by deposits and boasts one of the best customer engagement and satisfaction rates. We want to continue growing in the U.S., the largest financial services market in the world,” said Ana Botín, President of Banco Santander, on the institution’s official website.

With this international expansion strategy, Openbank aims to establish itself as a key competitor in the fintech sector, attracting clients with its 100% digital approach and ability to offer personalized experiences.