White & Case has played a significant role in assisting Banco Santander, based in Spain, in acquiring a license to operate its digital establishment in Mexico. This setup represents a significant stride in the bank’s digital presence in one of its top performing markets.
Heading the operation were Teresa Fernández, a local partner in debt finance, and Carlos Mainero, a capital markets partner. Both are stationed in Mexico City.
This move is a component of the broader Openbank rollout scheme by Santander, aiming to extend its services to a larger share of Mexico’s unbanked populace. This demographic is a substantial target market for the Spanish bank.
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