Grupo Santander‘s digital bank OpenBank has today announced its entry into the Dutch market with a full suite of retail banking services. Customers will also have the ability to make use of the group’s highly advanced robo-advisory services, normally reserved for private banking clients, which are advised by global asset manager BlackRock – starting with a portfolio of 500 euro or more. Customers will be subject to mandatory suitability tests to determine risk appetite and financial literacy and will be able to invest towards certain goals. OpenBank will provide a web and app based service and will only operate one physical location – an expansive call center aiming to cater to all customer needs which will also provide investment advice on request.
Clients will be able to access all the services they have come to expect from a host of challenger and digital banking offerings – throwaway digital cards, apple pay, PFM tooling, coupled with investment and savings options in one single platform.
Outside of Spain, OpenBank has a presence in Germany, Portugal and now the Netherlands, with Argentina on the roadmap – with a client base of 1,2 million users in Europe, of which 43% use Open Bank as their primary bank.
Holland FinTech welcomes Open Bank to the Dutch Ecosystem!