Description
As part of the C-suite leadership team for the launch of OpenBank US, I played a key role in defining the strategy, securing funding, and building the foundational roadmap for a digital-first banking experience. Our goal was to expand Santander’s footprint beyond the Northeast, leveraging OpenBank as a fully digital, national banking platform.
Key Contributions & Achievements
- Strategic Decision-Making
- Led discussions on whether to leverage an existing banking license or pursue a new charter.
- Conducted core banking system evaluations—assessing whether to maintain Santander’s proprietary core or explore new technology stacks.
- Built the business case for a high-yield savings account as the initial product, designed to fund Santander Consumer’s auto lending business—one of the top four subprime auto lenders in the U.S.
- Execution & Go-To-Market Strategy
- Secured funding and structured the bank’s expansion roadmap for national growth.
- Prioritized speed to market, opting to integrate with an existing payments vendor to enable ACH and wire funding capabilities.
- Defined the payments roadmap for the initial release and long-term evolution, including:
- P2P payments for checking accounts
- Real-Time Payments (RTP) & FedNow integration strategy
- Cross-border remittances and digital remittance provider partnerships
- Operational & Market Success
- Successfully launched OpenBank US in October 2024.
- By February 2025, OpenBank reached $2 billion in deposits—2x the goal set for Q1 2025.
What I Learned
- The critical balance between speed-to-market and long-term scalability when selecting vendors and infrastructure.
- How to build and execute a comprehensive payments strategy for a digital bank—from launch to multi-year expansion.
- The complexities of cross-border banking, from remittance partnerships to real-time payment solutions.
Conclusion
OpenBank US was a milestone project in my career, blending digital banking innovation, payments strategy, and cross-border finance. The success of this initiative reinforced my ability to lead large-scale fintech projects, drive banking transformation, and execute high-impact growth strategies.