Openbank, Spain's first 100% digital bank, is synonymous with innovation. Since its inception, this project has revolutionised the concept of banking. Now, with technological breakthroughs, it is relying on artificial intelligence and machine learning technology to improve its services.

“International expansion is a milestone for us,” notes Openbank’s CEO, Ezequiel Szafir, in reference to the bank’s expansion strategy.

Openbank, which was originally launched 24-years ago as a telephone assistance service for our customers in Spain, has now become an entire innovation and development project providing state-of-the-art services to more than one million people around the world.

What is more, for Openbank there are no borders. That's the reason we operate in more and more countries. In fact, in September we got off the ground in Germany, and before year-end we will continue in the Netherlands and Portugal before moving on to other destinations over the medium term in Latin America, including Peru, Mexico and Argentina.

Nor are there limits

Our 100% digital bank continues to explore new ways to bring innovation to its services. Indeed, it was one of the world's first banks to use cloud-based IT infrastructure, making finance management more convenient, simple and fast. And it was also one of the first banks to use artificial intelligence and machine learning technology to enhance security and protection against fraud.

And that's not all. With Ezequiel Szafir at the helm, the bank has also turned to robo-advisors to develop a revolutionary automated investment service that combines target-based investment with automated managers. This service adapts the investment strategy to changes in the market. Openbank’s unwavering commitment to innovation earned us Forbes' recognition as the Best Bank in Spain in 2019, and we were the Spanish bank with the highest recommendation in the Net Promoter Score (NPS) index.

"The bank's success is the result of understanding that innovation and digital and technological transformation are a catalyst for our business model and our strategy, turning challenges into opportunities," says Ana Botín, Santander Group executive chairman.

Openbank: evolution and progress

The story of the bank, which has marked a turning point in Spain's banking landscape, began in 1995. At Openbank we initially provided basic services over the phone and had 100,000 customers in just one country. But our innovative vision and our efforts have made Openbank one of the most ambitious digital projects in the banking world today, affecting millions of people.

Milestones in our story: In 1995, Openbank starts out as Spain’s first telephone bank and gains 100,000 customers. In 1999 first online broker that allows real-time operation in both deomestic and international markets. In 2011, first bank with mobile native app for Android and iOS. In 2017, Launch of the new digital web-based app and web platform. In 2019, International Expansion: We launched our services in Germany, the Netherlands and Portugal.

In 2011, this desire to grow and evolve made us the first bank with a native mobile app for Android and for iOS. We now have one of the most complete, flexible and agile platforms in the sector.

“We want to make personalised financial services available to people wherever they are and however they want them. For those who prefer an exclusively digital service via mobile phone, says Ana Botín, who considers Openbank "everyone's bank", this is a project without limits or borders, designed to improve people's lives.

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