Santander names PayPal’s Nitin Prabhu as new head of Digital Consumer Bank
Banco Santander has appointed PayPal exec Nitin Prabhu as its global head of Digital Consumer Bank (DCB).
Prabhu to join Santander “early in 2025” (Image: LinkedIn)
As one of the Spanish banking group’s five global businesses, DCB combines the bank’s auto and consumer finance units, including Openbank, and provides point-of-sale (POS) financing in 26 countries across Europe and the Americas to 25 million customers.
The news of Prabhu’s hiring comes after Openbank, Santander’s digital banking subsidiary with €18.5 billion in deposits, launched in the US in October.
The incoming head joins from PayPal, where he spent over 12 years in various roles, including VP of in-person and digital commerce, global product head of card issuance, identity, and tokenisation platforms, before ending his stint as head of product for small and medium-sized enterprises businesses (SMEs) and financial services.
With more than 20 years of experience, Prabhu has also worked at the likes of eBay, American Express, and Wells Fargo.
Prabhu will start his Santander tenure “early in 2025”, reporting to group executive chair Ana Botín and based in Madrid.
Speaking on the new leadership addition, Botín states that Prabhu brings a “strong customer focus and understanding of how to build digital products that meet client needs”.
