Openbank kicks off operations in Argentina

Openbank, Santander's 100% digital bank, has landed in Argentina. After several months of allowing certain users to test its new platform, it's now giving every customer access to all the features and products it is offering in this new market. Argentina marks the bank's first undertaking in the Americas. It is also the fifth country where it will set up operations after having established itself in Germany, Portugal and the Netherlands in recent years and in Spain for 27 years.

With more than 1.7 million customers across the globe, Openbank ended its best year ever upon increasing its customer base outside Spain by 83%. In Argentina, it will start rolling out products and services initially with savings and salary accounts, plus debit cards that will enable customers to perform usual transactions fast, easily and securely all over the world. It will also give customers access to Debin, an instant money transfer system (like Bizum but in Argentine pesos and US dollars) for individuals.

Customers can sign up for any account or product in a matter of minutes via the bank’s mobile app, website or call centre (open 24/7) in a totally digital process. Openbank will add to its product catalogue in the coming months.

According to Openbank CEO Ezequiel Szafir: “Arriving in Argentina marks a new milestone in our expansion into a new region. The challenge will enable Openbank to grow profitably and sustainably while diversifying its business geographically. We will do so thanks to a fully digital banking model that utilizes big data and artificial intelligence to make every customer’s experience better and more personal”.

Openbank Argentina CEO Federico Procaccini added: We’re very proud to kick off the bank’s launch in Argentina. We've put a lot of time, energy and effort into this project, and we expect to give our customers a world-class experience on our digital banking platform to which we’ll continue to add products and features in the months to come”.

In addition to the services on the bank's website and mobile app are several free features for all customers, such as:

Password Manager Databank

Openbank is the first bank in the world to provide its customers with a password and data manager entirely free of charge. Due to the speed and highest-level security standards of the bank’s technology, all customers have a space on its app (for iOS and Android) to store the primary passwords and data they use every day.

An unlimited number of passwords for such things as email, paid TV streaming platforms, blogs, sporting apps and e-commerce can be stored on Openbank's platform with utmost privacy and security. First, customers must create their space for storing passwords as well as a unique access code they’ll need to remember — not even Openbank will know their access code. Upon entering their personal space, customers will be able to see each stored password by simply swiping the screen or opening its separate pop-out.

Card control and device management

On Openbank’s website and app, customers have a dashboard to activate or deactivate payment instruments when purchasing things online or in stores. It puts customers in full control of their payment methods’ security and use.

Another new feature on the bank's website and app is the option of managing the devices for Openbank account access and seeing the terminals that connected to the bank in the last 30 days. Customers can block one or several devices (e.g., a computer at a hotel).

About Openbank

Openbank is Grupo Santander’s fully digital bank, with more than 1.6 million customers in Spain, Germany, the Netherlands, Portugal and Argentina, and €11 billion in deposits. It offers a wide range of products, from loans and mortgages to a fully automated digital investment platform that customers can sign up to 24 hours a day, seven days a week via the website or app. It has managed to hold on to its position as the most highly recommended Spanish bank by its customers thanks to its simplicity, agility and security. At present, the bank is immersed in its internationalization plan and medium-term quest to set up operations in ten markets.

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