Banco Santander announced today that Nitin Prabhu is to join its management team as the global head of Digital Consumer Bank (DCB). DCB is one of Santander’s five global business and incorporates all its auto and consumer finance businesses, as well as Openbank.
Nitin joins Santander from PayPal, where over the past 12 years he has played a pivotal role in the growth of the business, holding several senior roles, including most recently head of Product for Small and Medium size businesses (SMBs) and Financial Services. He has a Bachelor of Engineering in Electronics and Communication and has a background in business and product management in India and the US, holding numerous US patents in finance, payments, identity and commerce.
Nitin will join the bank early in 2025, subject to regulatory approval, and will be based in Madrid, reporting to the group executive chair.
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.
Santander’s Digital Consumer Bank is a leading consumer finance provider globally, combining three interconnected businesses: auto financing, consumer lending (supported by Zinia) and Openbank. It operates in 26 countries in Europe and the Americas, and serves the financing needs at the point of sale (both physical and digital) of 25 million customers.
In the first nine months of 2024, DCB generated €9.6 billion in revenues (20% of total group revenue) and €1.5 billion in attributable profit. The business has achieved several milestones in the year, including the launch of Openbank in the US and Mexico, and the announcement of partnerships with Amazon and Apple in Germany to provide financing solutions through Zinia.
