Particle.news
Download on the App Store

Openbank Reaches 500,000 Users in Mexico, Leans on Santander Support for Long-Term Push

New regulatory and industry data highlight profitability pressures alongside persistent digital onboarding gaps in Mexico.

Overview

  • CEO Juan José Galnares says the 2026 plan centers on rapid smartphone onboarding in about five minutes and a focus on deeper, fewer products for young, underbanked customers.
  • CNBV figures show a 2025 loss of 1,402 million pesos and report up to 335 million pesos in card exposure for Openbank.
  • Santander’s backing is cited as a competitive advantage that allows patient decision-making and investment as the neobank scales.
  • Google Cloud’s Finfacts 2026 finds six of nine Mexican institutions still do not open accounts in real time, with some requiring branch visits, highlighting frictions Openbank must navigate.
  • Openbank reports using artificial intelligence mainly for internal processes and customer service rather than fully automated, end‑to‑end account servicing.