Santander’s U.S. Arm Considers Openbank for Next Phase of Turnaround
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As Banco Santander SA’s U.S. business works through the tail end of years of overhauls, executives are discussing what the future might look like -- and how a stand-alone online bank will fit in.
The future of the Spanish bank’s American operations could include a form of Openbank, its online-only lender, said Scott Powell, head of Santander’s U.S. unit. Openbank debuted in Spain in 2016.