OpenBank

Name

OpenBank

Legal name

Open Bank, S.A.

Website

https://openbank.es

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Digital Retail Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ)

akta.pro secondary industries

Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Digital retail banking
• Neobank savings accounts
• Consumer mortgage lending
• Automated investment management
• Regulated cryptocurrency trading

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Net Interest Income: Interest income generated from mortgage lending (fixed, variable, and mixed rate products), consumer credit including Protection al Descubierto (overdraft protection), and credit card lending. The bank offers mortgages from 2.80% TIN, credit protection at 7.72% TIN (8.00% TAE), generating spread income on lending activities.
2. Mortgage Lending: Home mortgage origination and servicing including Hipoteca Fija (fixed rate from 2.80% TIN), Hipoteca Variable (variable rate starting 2.00% TIN first year), and Hipoteca Mixta (mixed rate). Interest income and potential origination fees contribute to revenue.
3. Cryptocurrency Trading Fees: Transaction fees charged on cryptocurrency trading services. The platform charges a 1.49% transaction fee with a one euro minimum and no custody fees for trading Bitcoin, Ether, Litecoin, Polygon, Cardano, Solana, and Polkadot, operating under EU's MiCA regulatory framework.
4. Robo-Advisor Management Fees: Annual management fees on automated investment portfolios ranging from 0.42% to 1.03% IVA included depending on investment size (lower fees for larger balances). Fees calculated on daily average assets under management with implicit fund costs additional.
5. Prepaid Card and E-commerce Services: Free prepaid eCommerce card generating revenue through transaction interchange fees and partnerships with merchants for the Descuentos Open discount program. The virtual card supports online purchases up to 3,000 EUR.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

OpenBank operates as a fully digital bank offering fee-free current and savings accounts, salary accounts, mortgages (fixed, mixed, and variable rate), credit cards, overdraft protection, automated discretionary portfolio management (RoboAdvisor / Invertimos por Ti), and MiCA-regulated cryptocurrency trading for retail customers. The platform also provides instant peer-to-peer payments via Bizum and is accessible through mobile app, website, and 24/7 telephone banking across Spain, Germany, Mexico, and the United States.

Product overview

OpenBank is a digital banking platform and subsidiary of Grupo Santander offering a comprehensive suite of banking products. The core offering centers on fee-free current and savings accounts (Cuenta Corriente Open, Cuenta Nómina Open, Cuenta Remunerada Openbank), credit products including mortgages (Hipoteca Open in fixed, mixed, and variable formats), credit cards (Open Credit), and overdraft protection. Investment services include the RoboAdvisor automated portfolio management (Invertimos por Ti) with ESG-focused fund selection and cryptocurrency trading for Bitcoin, Ether, and other major cryptocurrencies under MiCA regulation. Payment services include integrated Bizum for instant transfers and a virtual prepaid eCommerce card. The platform is available across Spain, Germany, Mexico, and the United States, with the US launch combining Gravity core banking infrastructure with the ODS customer interface.

Differentiator

Problem solved

Functional benefit

Products and services

• Cuenta Corriente Open Fee-free current account with 0% TAE interest, no maintenance, administration, or cancellation fees. Includes a free Open Debit card for the primary holder. Targeted at Spanish retail consumers seeking everyday banking without charges.
• Cuenta Nómina Open Salary account providing benefits for direct-deposit payroll customers, including cashback promotions (e.g., €200 across 10 months for bringing two direct debits) and rewards. Targets Spanish consumers receiving regular salary income.
• Cuenta Remunerada Openbank Interest-bearing savings account offering 2.50% TAE (2.47% TIN) with no amount limit for the first year and monthly interest settlement. Targeted at retail customers seeking competitive returns on deposits without a balance cap.
• Hipoteca Open (Fija, Mixta, Variable) Home mortgage product offered in fixed-rate (from 2.80% TIN), mixed-rate (5 years fixed then variable), and variable-rate (Euribor + 0.65%) options. Includes pre-approval in minutes, a dedicated personal manager, and up to 0.50% bonification for salary direct deposit, home insurance, and life insurance. Targets Spanish residents financing primary or secondary homes.
• Tarjeta Prepago eCommerce Virtual Mastercard prepaid card for online shopping. Free issuance, maintenance, cancellation, and reload (€0.01–€3,000). Includes free travel accident insurance (up to €120,202) and daily accident insurance (up to €6,010), plus discounts through the Descuentos Open program. Targets consumers seeking secure online payment.
• Tarjeta de Crédito Open Credit Credit card allowing buy-now-choose-when-to-pay flexibility, with cashback benefits and discounts through the Descuentos Open program. Targets retail consumers wanting revolving credit and rewards.
• Protección de Descubierto Overdraft protection providing a €300–€12,000 credit line for unexpected expenses. No opening or study fees; interest charged only on the amount used for the days utilized at 7.72% TIN (8.00% TAE). Requires minimum €900 salary deposit or €6,000 investments to qualify. Targets retail customers needing short-term liquidity.
• RoboAdvisor (Invertimos por Ti) Automated discretionary portfolio management service investing in funds, with management fees from 0.42% (for balances over €1M) to 1.03% IVA included (under €25,000). Minimum investment €500; additional contributions from €1. Features five risk profiles (Conservative to Aggressive), automatic rebalancing, and ESG-focused fund selection with minimum 50% ESG exposure. Targets retail investors seeking diversified, automated portfolio management.
• Cryptocurrency Trading Cryptocurrency trading service enabling retail customers to buy, sell, and hold Bitcoin, Ether, Litecoin, Polygon, Cardano, Solana, and Polkadot. Operates under the EU MiCA regulatory framework with a 1.49% transaction fee (€1 minimum) and no custody fees. Targets retail consumers in Spain and Germany seeking regulated crypto access from a bank.
• Bizum Instant Payments Instant mobile payment service for peer-to-peer transfers, online shopping payments, and charitable donations. Free for OpenBank customers, with limits of €0.50–€1,000 per operation, €2,000 daily maximum, and €5,000 monthly maximum. Includes international cross-border capabilities via MB WAY (Portugal) and BancoMat Pay (Italy). Targets retail customers needing fast payments.

Quantifiable outcome

• Best telephone customer service in Spain (NPS Benchmarking Stiga, second semester 2025)
• +3 more outcomes

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature6 records

Partnerships

Four partnerships are on record, tiered minor and core.

• VerizonminorGTM or Marketing Partner · 27 April 2026Verizon partnered with OpenBank (Santander) to offer high-yield savings account promotions to Verizon customers, leveraging telecommunications company's customer base for digital banking acquisition in the US market.
• Crypto Asset Infrastructure ProviderscoreTechnology or Integration · 1 December 2025OpenBank launched cryptocurrency trading services in Spain and Germany under MiCA regulation, partnering with infrastructure providers to enable retail customers to buy, sell, and hold Bitcoin, Ether, Litecoin, Polygon, Cardano, Solana, and Polkadot.
• Santander Asset ManagementcoreStrategic or Co-development Partner · 1 April 2024Santander Asset Management provides market vision, optimal asset allocation recommendations, and fund selection expertise for OpenBank's Robo-advisor (Invertimos Por Ti) investment management service, advising the OpenBank Investment Committee.
• Zurich Insurance GroupcoreStrategic or Co-development Partner · 1 September 2023Zurich Insurance Europe AG and Zurich Vida provide home insurance and life insurance products for OpenBank's mortgage bonification program, distributed through OpenBank as tied insurance operator (OV-0089) with bundled pricing benefits for mortgage customers.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Revolut: UK-based global digital bank offering fee-free retail accounts, crypto trading, investments and multi-currency cards. Directly comparable as a multi-market digital challenger with built-in crypto execution and aggressive deposit-rate acquisition, competing head-to-head with OpenBank in Spain, Germany and the broader EU.
• Bunq: Netherlands-based digital-only bank offering multi-currency accounts, savings, investments and Business banking across Europe. Comparable in fee-free retail proposition and European multi-market regulatory footprint, competing for the same digitally native EU customer.
• Monzo: UK mobile-first challenger bank with fee-free current accounts, savings, investments and consumer credit. Mirrors OpenBank's full-stack digital retail proposition on a different geography and provides a useful template for digital deposit growth trajectory and credit cross-sell.
• N26: Berlin-headquartered mobile-first challenger bank with retail accounts, savings, investments and overdraft across most EU markets. Direct competitor in Germany and Spain with similar target customer and product mix, including Bizum-equivalent instant transfer integrations.
• SoFi: US digital financial services platform combining banking (checking, savings, CDs), lending (mortgages, personal, student refi) and brokerage/investing under a single app. Matches OpenBank's full-service, single-app ambition and competes on US savings rate plus brokerage/investment breadth.
• Starling Bank: UK digital challenger bank with personal, business and joint accounts plus lending and savings. Comparable as a fully licensed digital-only bank operating across multiple customer segments, mirroring OpenBank's strategy of combining everyday banking with mortgages and investment products.
• Chime: US's largest pure-play digital bank with high-yield savings, fee-free checking and early direct deposit as acquisition hooks. Closest analogue to OpenBank in the US market — same deposit-rate-led acquisition playbook and digital-only model, competing for the same American mass-affluent customer.

Regional players

• ImaginBank (CaixaBank): Spain-focused digital subsidiary of CaixaBank offering mobile-first accounts and lifestyle rewards. The most direct Spanish-headquartered competitor to OpenBank in its home market, competing on similar target customer, brand recognition and ecosystem partnerships.

Emerging players

• Trade Republic: German-headquartered mobile broker with EU banking license offering savings, crypto and brokerage. Direct competitor in OpenBank's German footprint and adjacent in Spain for the invest-and-save customer segment.
• Wise: UK-listed cross-border money movement specialist with multi-currency accounts, consumer debit card and savings/payments integrations. Comparable to OpenBank in cross-border P2P and EU payment integration (Bizum/Bizum-international, open banking APIs) and competitive where EU customers need cross-border account capability.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/openbank_es
• YouTubeyoutube.com/user/openbank
• Facebookfacebook.com/openbank.es
• LinkedInlinkedin.com/company/openbank
• Instagraminstagram.com/openbank_es/?hl=es

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenBank