Santander$SAN (+0,23 %) launched Openbank, its digital bank, in Mexico on Tuesday. This new platform offers a 12.5% annual return on savings accounts and is aimed at unbanked customers as well as users who are dissatisfied with traditional banks. Given the success of fintechs such as Nubank $NU (+1,59 %) which have grown strongly in Mexico, Openbank sees great potential in the market. The digital bank is already established in Europe and plans to further expand its services in the coming months. Openbank aims to become a trusted option for Mexican customers looking for innovative products.