Santander Mexico has plans to launch a new digital bank over next few months.

Speaking at an event with start-up adviser Endeavor, as reported by Reuters, Santander Mexico’s head of digital innovation Matias Nunez said that its digital banking service ‘Openbank’ will be introduced “this year".

"I hope in just a few months we'll be back here to talk about the launch," added Nunez.

The head of digital innovation also said that the bank had recently introduced several other digital services in the country, including a ChatGPT-powered customer service bot.

The move comes amidst stiff competition in the region, with fellow Mexican bank Banorte planning to introduce its own digital bank at the end of the month.

Brazilian company Nubank, Latin America’s largest FinTech, also recently reached 5.2 million digital banking customers in Mexico and Colombia.

Earlier this month, Santander announced it had hired 4,500 IT staff globally in 2023.

The bank revealed that its recruitment drive had seen its IT workforce increase to 27,500 globally as it continues its digital transformation.

The broad range of hires covers areas including cloud, cybersecurity, data, DevSecOps, artificial intelligence, software development, enterprise architecture and product management.

The recruitment drive was part of the bank’s Be Tech! with Santander programme, which has lead to 27,500 STEM professionals joining Santander’s 10 core markets in Europe and the Americas.

This programme, which has been launched in several countries where the bank operates, such as Spain, Brazil, Mexico, the United Kingdom or the United States, has 400 vacancies for technology roles.

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