Business · Companies · 3 hrs ago
Santander plans Openbank launches in Colombia and Peru
Santander plans to bring its digital bank Openbank to Colombia and Peru soon.
The bank’s president, Ana Botín, announced the plans at a Santander event in Madrid.
Openbank already operates in Spain, Portugal, Germany, the Netherlands, the United States and Mexico.
Brazil is also on the expansion roadmap, though Santander described a launch there as a possibility for the future.
The bank says a shared technology platform can lower costs and help it compete with digital rivals such as Nubank and Revolut.
Openbank’s expansion is intended to strengthen Santander’s position in Latin America, where the group has 112 million customers.
Santander also said a planned link between its US and Mexican operations for instant transfers will be delayed by a few months as it prioritises integrating Webster.
Santander plans to launch its Openbank digital bank in Colombia and Peru soon.
Chair Ana Botín announced the plans at a Santander Latin America event in Boadilla del Monte, Spain.
Brazil is also on Openbank’s roadmap for a possible future launch.
Openbank currently operates in six markets: Spain, Portugal, Germany, the Netherlands, the United States and Mexico.
Santander said Openbank Mexico, which launched in 2025, has reached 1.6 million customers.
- Who
- Santander and its digital bank, Openbank.
- What
- Santander plans to launch Openbank in Colombia and Peru soon. Brazil is also under consideration for a future launch.
- When
- The launches in Colombia and Peru are planned for the near future; no specific date is stated.
- Where
- Colombia and Peru, with Brazil also on the longer-term roadmap.
- Why
- Santander sees Openbank’s technology platform as a competitive advantage and Latin America as a region with room for growth.
This story does not have two clearly opposing sides.
Openbank was repositioned as Santander’s digital bank.
Openbank’s attempted launch in Argentina failed.
Openbank launched in Mexico.
Botín announced plans to launch Openbank in Colombia and Peru at Santander’s Latin America event.
- Planned launches
- Colombia and Peru
- Possible future market
- Brazil
- Current markets
- Spain, Portugal, Germany, the Netherlands, the United States and Mexico
- Openbank Mexico launch
- 2025
- Openbank Mexico customers
- 1.6 million
What people are saying
Latin America is very much in fashion, and for the right reasons; it is doing things well in a turbulent world
Santander is less volatile thanks to Latin America, not despite Latin America