Competitor Profile: Openbank

Competitor Profile: Openbank

Summary

Openbank is a digital bank that was founded in 1995 as a subsidiary of Santander Group. Originating as a telephone banking service, it has moved into the digital sphere with online banking and a digital app while closing 11 of its 12 bank branches. More recently it has developed its own API software, allowing customers to view aggregated account data from multiple banks that operate in Spain.

This report provides information and insights on Openbank, including details of its business and geographical presence; comprehensive coverage of its products and services; a comparative assessment of its main competitors; information on its performance; and a look at key events and milestones.

Scope

• Openbank is currently available in Spain, Portugal, Germany, and the Netherlands. The company plans to expand to 10 countries internationally and take on the majority of Santander’s 30 million customers.
• Between 2017 and 2018, Openbank partnered with Samsung, Apple, Google, Fitbit, and Garmin for payments via smartphones and smartwatches.
• In April 2018, Openbank partnered with Blackrock, with the latter advising the bank on the distribution of assets and market analysis.

Reasons to Buy

• Gain insight into Openbank’s business operations and key events in the company’s history.
• Learn about its product and service portfolio.
• Assess the competitive dynamics in the retail banking industry by comparing its performance against competitors.