We realized a few weeks again that the previous head of Marcus, Swati Bhatia, had taken a job at Santander to guide U.S. shopper and enterprise banking.
Yesterday, we realized extra particulars about what this new job goes to ivolve.
Santander introduced that it’s going to convey its European digital financial institution, Openbank, to the U.S. and Mexico with an anticipated launch within the second half of this yr. Now, the transfer by Bhatia makes excellent sense.
She is a wonderful option to run the brand new digital financial institution given her expertise at Marcus, to not point out her time at Stripe and PayPal.
For these of you not following the European banking market, Openbank is the biggest digital banking model in Europe by way of property, with €18 billion in deposits throughout Spain, Portugal, Germany and the Netherlands.
The financial institution will face stiff competitors within the U.S. from each fintechs and conventional banks, together with others which have made the bounce from the UK and Europe.
If you’re a golf fan, defending Masters Champion Jon Rahm is Santander’s international ambassador and might be sporting the Openbank emblem on his shirt this week in Augusta.
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