Banco Santander, a leading global financial services provider, has announced the appointment of Nitin Prabhu as its new global head of Digital Consumer Bank (DCB).
Prabhu will join the management team early in 2025, subject to regulatory approval, and will be based in Madrid, according to FF News.
Santander is a multinational bank offering a wide range of financial services, including retail, commercial, and investment banking.
Its Digital Consumer Bank segment encompasses auto and consumer finance businesses, as well as Openbank, a digital-first banking platform.
Prabhu joins the firm after a 12-year tenure at PayPal, where he contributed significantly to the company’s growth.
He held several senior roles, including head of Product for Small and Medium-sized Businesses (SMBs) and Financial Services. Prabhu brings extensive experience in business and product management, having worked in both India and the US, and holds numerous US patents in finance, payments, identity, and commerce.
In his new role, Prabhu will report directly to group executive chair Ana Botín. His responsibilities will include overseeing the DCB, which integrates auto financing, consumer lending, and the operations of Openbank.
He also holds a Bachelor of Engineering in Electronics and Communication, further reinforcing his technical and business expertise. His work at PayPal has positioned him as a leader with a strong focus on customer-centric product development.
Santander’s DCB is a global leader in consumer finance, operating in 26 countries and serving 25 million customers. In the first nine months of 2024, it generated €9.6bn in revenues, accounting for 20% of the group’s total revenue, and €1.5bn in attributable profit.
Significant achievements in 2024 include the expansion of Openbank into the US and Mexico and partnerships with Amazon and Apple in Germany to offer financing solutions through Zinia.
“I am delighted that Nitin is joining Santander to lead the Digital Consumer Bank. DCB is at the forefront of innovation in consumer finance, backed by the strength of Santander’s global network. Nitin brings a strong customer focus and understanding of how to build digital products that meet client needs, and I am confident he will help the business continue to generate profitable growth,” Ana Botín, Banco Santander executive chair.
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