Openbank becomes the first 100% digital Spanish Bank. The bank recently launched by Santander is one of the first banks in the world to use a cloud based IT-infrastructure.
The bank offers a complete range of products (savings, loans, invest ments... etc) with customiser 24x7x365 days support.
This is very different to some of the smaller challenger banks in the UK. Monzo had started as digital wallet and now with their banking license are offering free UK current accounts. Another small challenger is Atom bank who offer savings and mortgages through a brokerage service.
Although competition is increasing in the UK, perhaps there is space for banks like Openbank to also move to the UK market offering a wider choice of services?
The new Openbank platform has been developed over the past 15 months in Spain using some of the most advanced technologies. It is one of the first banks in the world to use a cloud-based IT infrastructure. This allows the Bank to offer a 100% digital proposition with novel features and the most advanced security. Ana Botin, Banco Santander Executive Chairman said: “We want to offer personalized financial services, accessible from anywhere, at anytime. For people who prefer an exclusively digital service that is simple, agile and available via smartphone, with the guarantee of the Santander Group, Openbank is the answer”.