Santander’s expansion of Openbank into the US demonstrates the importance of neobanks

Omdia view

Summary

Santander has announced that its neobank brand Openbank will be launched into the US later this year, demonstrating the continuing importance of digital-only banks. Omdia has recently refreshed its coverage of neobanks, and the Neobank Activity Tracker now tracks more than 100 neobanks of various origin (startup, banking incumbent, or big tech/telco) across nine key categories and more than 50 subcategories.

Neobanks aren’t a threat, until they are

There has been a lot of doom and gloom written around the future of neobanks, but it is easy to forget that they are only now just entering their teenage years, and a handful have already matured into fully fledged adults.