Banco Santander has appointed Nitin Prabhu as the new global head of its Digital Consumer Bank (DCB), effective early 2025, pending regulatory approval. Prabhu will be based in Madrid and will report directly to group executive chair Ana Botín.
Prabhu joins Santander after a 12-year career at PayPal, where he held senior roles, including head of Product for Small and Medium-sized Businesses and Financial Services. His extensive experience in business and product management, combined with numerous US patents in finance and payments, positions him as a leader in customer-centric product development.
The DCB segment of Santander encompasses auto and consumer finance, as well as Openbank, a digital-first banking platform. The DCB operates in 26 countries, serving 25 million customers, and generated €9.6 billion in revenues in the first nine months of 2024, accounting for 20% of the group's total revenue.
In 2024, significant achievements for the DCB included the expansion of Openbank into the US and Mexico and partnerships with Amazon and Apple in Germany for financing solutions through Zinia. Ana Botín expressed confidence in Prabhu's ability to lead the DCB towards continued profitable growth.