Scalable Capital and BlackRock license robo-technology to Santander’s Openbank

Santander Group’s, a well-known Spanish banking giant, digital-only Spanish consumer division, Openbank, licensed robo-technology from Scalable Capital and BlackRock for its digital wealth management operations in 2018.

According to Joshua Thurston at Wealth Manager, “Scalable Capital will provide technological infrastructure for the robo advisor while BlackRock will deliver the strategic asset allocation for the Openbank portfolios.” Scalable Capital is currently one of the biggest B2B robo-technology providers in Europe.

The new service is called “Invertimos por ti“, and the new wealth management offering was successfully launched in late September 2018.