Openbank is a direct bank headquartered in Madrid, Spain. Since its foundation in 1995, it has been a subsidiary of Grupo Santander. According to the Spanish Banking Association, nearly 1,350,000 accounts had been registered with the bank . Openbank currently operates in Spain, Germany, Portugal, the Netherlands, the United States and Mexico.
Openbank is a direct bank headquartered in Madrid, Spain. Since its foundation in 1995, it has been a subsidiary of Grupo Santander. According to the Spanish Banking Association, nearly 1,350,000 accounts had been registered with the bank . Openbank currently operates in Spain, Germany, Portugal, the Netherlands, the United States and Mexico.
==History== Santander created Openbank in 1995, and launched its website in 1996. In 2000, after buying the Argentine portal Patagon.com for $540 million, Openbank changed its name to Patagon Internet Bank S.A., a financial portal that combined traditional banking with digital features such as chatrooms and internet forums. In 2001, Patagon Internet Bank S.A. opened commercial offices in Zaragoza, Madrid, Pamplona, Valencia, and Barcelona. In 2005 the name was changed back to Openbank.
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