Portfolio categories: <span>Payments</span>

Launching OpenBank US: A Digital Bank Expansion Strategy

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.