Daily News

Santander Seals Webster Deal, Bets Bigger on the U.S.

Hey Digital Banking Fanatic!

Santander just made a pretty big bet on the U.S.

Its acquisition of Webster Financial is officially done, bringing the two banks together and giving Santander a U.S. business with nearly eight million customers.

For customers, not much changes for now, though they can use both banks’ ATM networks without paying a fee.

And Santander clearly isn’t pulling back from the U.S. While some European banks have struggled to make the market work, Santander is betting that getting bigger is the answer.

More digital banking news below 👇

See you Monday!

Cheers,

Marcel

INSIGHTS

🎤 What an AI-native bank actually looks like by DashDevs. In this episode of the FinTech Garden Podcast, Igor Tomych speaks with Theodora Lau, founder of Unconventional Ventures, author of Banking on (Artificial) Intelligence, and host of the One Vision podcast, about how banks built their value on being the institution customers turn to, what changes now that 53% of US consumers consult AI tools for financial advice, and what institutions should be doing over the next two to three years. Watch the full podcast here

Are banks becoming irrelevant in the AI era? With Theodora Lau

NEWS

🇨🇦 Klarna launches in-store at GARAGE and DYNAMITE, expanding BNPL to over 300 physical locations across Canada, the U.S., and the UK. Shoppers scan a QR code at checkout to split eligible purchases into interest-free installments.

🇪🇬 CIB Egypt's Yomo obtains a digital banking license from the Central Bank of Egypt with $200M in capital. The wholly owned digital bank targets operations in Q4 2026, initially offering limited services before expanding.

🇬🇧 Nationwide aims to simplify credit scores with a free widget in its app and online banking. The tool shows customers what factors influence their score, helping them make more informed financial decisions.

🇦🇪 Fintech Galaxy receives in-principle approval from the Central Bank of the UAE to operate as an Open Finance provider. The approval enables participation in Al Tareq, the UAE's Open Finance scheme for consent-based financial data sharing.

🇬🇧 Starling Bank adds AI-powered skills to its customer-facing chatbot, launching "smart tools" for personalised savings plans, scam guidance, and automated VAT savings. The bank plans to release new smart tools every week.

🇺🇸 Prevail Bank adopts Jack Henry's core processing and digital solutions to modernize operations. The bank will use Banno Digital Platform, Tap2Local for payments, and AI-assisted fraud investigation tools.

🇺🇸 Pathward selects Thought Machine's Vault Core to modernize its U.S. sponsor banking infrastructure. The cloud-native platform will replace legacy technology and accelerate FinTech innovation.

🇺🇸 Santander completes its acquisition of Webster in the United States. The deal creates a leading retail and commercial bank with nearly eight million customers, expanding Santander's Northeast presence as it targets 18% RoTE by 2028.

🇺🇸 Pibank appoints Daniel Barake as EVP of Retail Banking to lead U.S. growth. The former Citibank executive brings extensive retail banking experience to strengthen Pibank's digital-first platform and expand its U.S. customer base.

🇬🇧 Tandem Bank bolsters its executive team with new CRO and CPO appointments, adding senior leadership to accelerate its sustainable finance strategy. The two hires are expected to strengthen Tandem's green lending proposition and drive long-term product growth.