Openbank launches in Mexico: A fully digital banking experience

Digital Reinvention
21/11/2024News

Openbank, Grupo Santander’s fully digital bank, has officially entered the Mexican market, offering a cutting-edge, fee-free banking experience with competitive savings rates. With the launch of its website and app, Openbank brings its globally recognized digital banking model to a new audience, combining advanced technology with a customer-first approach.

Competitive offerings for everyday banking

The flagship offering, the Open Debit Account, provides a standout 12.5% annual return on savings. Customers can also benefit from debit and credit cards, free cash withdrawals at Santander's extensive ATM network, and seamless SPEI transfers—all with no hidden fees or minimum balance requirements.

Backed by innovation and trust

Openbank Mexico CEO Matías Núñez described the launch as a significant milestone: “Our fully digital platform offers a secure, streamlined way for Mexicans to manage their finances, backed by the trust and expertise of Santander. We’re confident customers will embrace this innovative approach.”

Global CEO Petri Nikkila emphasized Mexico’s potential, stating, “Openbank’s model is central to Santander’s digital transformation. Mexico presents an exciting opportunity to deliver competitive, tech-forward solutions to customers seeking a superior banking experience.”

A growing global presence

Already a leader in Europe, Openbank has established itself as the largest digital bank by deposit volume, doubling its customer base in five years. Having expanded into the U.S., Openbank now brings its digital expertise to Mexico, where features like enhanced card security by transaction type and location aim to set a new standard for convenience and safety.

In the coming months, Openbank plans to expand its product offerings in Mexico, delivering on its promise to redefine the banking experience. With deposits insured by IPAB and top ratings from Moody’s and Fitch, Openbank ensures customers enjoy both innovation and financial security.

Digital Reinvention community

With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.

Related news & insights

28/05/2025Article

Rethinking banking's physical frontier

How banks can successfully modernize their branch networks by implementing a strategic balance of physical and digital elements.

SME Banking
27/05/2025News

Crédit Coopératif in talks to acquire Anytime, expanding digital services for SMEs and nonprofits

Strategic move to scale digital banking for professionals and associations.

Digital Reinvention
26/05/2025News

CaixaBank unveils Generation + to support Spain’s aging population

New suite of services focuses on retirement planning, elder care, and financial well-being.

26/05/2025News

Lloyds Premier: A new offering for the financially established

Integrated perks, lifestyle benefits, and financial tools in one account.

Digital Reinvention
26/05/2025News

Sumeria introduces interactive calendar and smart spending insights in app update

French mobile bank adds visual tools, merchant tracking, and personalized account details.

Digital Reinvention
25/05/2025News

BBVA unveils redesigned banking app with AI and personalized tools

The update introduces a native codebase designed for scalability across all markets, an overhauled visual identity, and a suite of...

Digital Reinvention
22/05/2025Article

Innovation of the Month: Millennium bcp’s Corporate Homebanking Platform

The Banking Innovation of the Month award for May goes to Millennium bcp’s Corporate Homebanking platform, a practical, user-driven solution...

Digital Reinvention
22/05/2025News

Openbank surpasses 100,000 U.S. customers in just six months

Just six months after launch, the platform has attracted more than 100,000 customers, signaling notable momentum as the bank builds...