The U.S. market remains a strategic priority for Santander. The Santander Bank, N.A. and Verizon partnership significantly expands Santander’s U.S. scale and national reach by bringing Openbank’s simple and secure banking experience with a competitive interest rate to millions of Verizon customers. As part of our strategy to become a leading, national digital bank with branches, the upcoming launch of Verizon + Openbank Savings builds upon the successful rollout of the Openbank digital platform in late 2024.
The partnership with Verizon is a major step forward for Santander Bank, N.A. in the USA and reflects the strength of the Openbank platform. We believe that Openbank’s high-yield savings accounts is the best of its kind in the market - fast, simple and a very competitive rate - and backed by Santander, a bank that has the trust of 173 million customers globally. The growth of Openbank in the US is a strategic priority for Santander and allows us to serve customers in the US nationwide. Openbank launched in the US in October last year and has already attracted over €3bn in deposits – well ahead of expectations and in line with fastest growth trajectories for similar launches. Huge congratulations to all the Santander and Verizon team and very excited about what lies ahead.