Santander’s digital banking subsidiary Openbank has selected German fintech Upvest to provide infrastructure for its investment services in Germany and across Europe.
Through the partnership, Openbank will adopt Upvest’s Investment API, which handles brokerage, custody, settlement, and regulatory compliance functions. The collaboration will initially focus on offering stocks and ETFs to German users, with a “broader asset rollout” scheduled for the near future, according to Upvest.
This integration allows Openbank to enhance its existing product range, which aside from investment services, currently includes cards, insurance, accounts, savings, loans and mortgages.
Openbank claims to be Europe’s largest fully digital bank by deposits, managing over €18.5 billion. The company serves two million customers across Spain, Germany, the Netherlands, and Portugal, and recently expanded to the US and Mexico in late 2024 with a high-yield savings product launched in October.
Jonathan Brander, Upvest’s COO, states: “This partnership with Openbank proves that modern investment infrastructure can meet the rigorous requirements of large financial institutions, while still offering the flexibility and speed needed to scale across markets.”
Upvest currently operates in 20 markets with clients including bunq, N26, and Revolut. The company recently strengthened its technical leadership by hiring Roberto Fajardo as SVP of Engineering and appointing Alexander Matthey to its board as a non-executive director, as FinTech Futures exclusively reported last week.
Source: https://www.fintechfutures.com/
