Las Vegas, Nevada.- The digital bank Openbank will seek to reach 5 million clients in Mexico in 5 years, its CEO, Matías Núñez, said this Tuesday.
The manager said that it will be in February 2025 when the official launch of Openbank in the country will take place, while the bank has already managed to accumulate a waiting list of 16 thousand Mexicans who signed up to be among the first to use the services of the new financial.
Read also: There is a lack of incentives to promote digital banking in Mexico: BBVA
“In two or three months we will open 100% of the bank. And that list of 16 thousand Mexicans who are waiting will be integrated,” commented Núñez in a talk with journalists within the framework of the annual AWS re: Invent event.
Openbank already operates in Spain, Portugal, the Netherlands and Germany, while it was in July 2023 when it received approval from regulators to begin operations in Mexico.
To date, the new bank is in a final testing stage in Mexican territory.
Openbank is the digital bank launched by Santander Bank to compete in Mexico in the sector of offering 100% digital banking services. According to the company’s plan, it will offer the Mexican market credit card accounts, debit cards, as well as insurance and investments.
Openbank arrives in Mexico at a time when the Mexican market is moving away from being “one of the Latin American countries with the least development of financial penetration,” according to Matías Núñez.
In Mexico, only one in 7 has a credit card, and informality also predominates, so more than 80% of family consumption is made in cash, he explained.
“That’s why Mexico is a great opportunity that is being appreciated, there are a large number of banks that are arriving,” he commented.
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