10th December 2020
Openbank, the largest fully digital bank in terms of customer resources and part of Grupo Santander, is expanding its offer to include a new broker service in Portugal, Germany and the Netherlands. Its customers in those countries will be able to trade shares in 4,000 companies listed on 25 markets as well as exchange-traded funds (ETFs).
The broker platform adds to Openbank's attractive product line of debit cards, current accounts and interest-bearing accounts in those three markets. Customers will be able to have all of their investment services on a single platform and create their own securities portfolios in an easy-to-use, intuitive app. The first three trades are free of charge for existing customers (up to €30 in fees).
“The broker platform completes our current Wealth proposition through our Digital Wealth Manager (Robo-Adviser) and savings plans. It will let our clients make their own decisions, get started in stock trading, with easy, direct and client-orientated browsing and all necessary features”, explains Gonzalo Pradas, Head of Wealth Management and chief investment officer at Openbank.
Invest easily with the Digital Wealth Manager
Besides investing individually and independently, customers will also be able to use the Digital Wealth Manager (robo-adviser) and benefit from the expertise of the Openbank Investment Committee, advised and supported by BlackRock and Santander Asset Management. The Digital Wealth Manager is aimed at both new and experienced investors; the minimum investment, at just €500, is one of the lowest rates on the market.
Openbank’s robo-adviser is constantly changing its investment strategies to adapt to the market, without customers having to do anything. Its aims include funds that invest following socially responsible investment (ESG) criteria.
Openbank is Grupo Santander's 100% digital bank, with more than 1.4 million customers and €11,400 million in customer funds. It has been recognized by consumer associations for giving the best customer experience. It also has the highest Net Promoter Score (NPS) among Spanish banks. In 2017, it relaunched its IT platform with Cloud-based components and machine learning for AML, fraud, credit risk and marketing functions. Openbank offers a wide range of retail banking products, including loans, mortgages and a robo-adviser automated investment service. Its customers log in to the bank via its website or app and can access a 24/7 customer service number. For more details, visit openbank.es.