In this issue of NuHeadlines – the newsletter with Nubank’s most recent launches, corporate information and press articles – you will read about Nunos, our customer relationship program that offers rewards; SOS Nu, the security hub for customers to learn how to take precautions and act in cases of scams, thefts and fraud; the arrival of Alex Ceballos and Adrian Cockcroft; and more.

Nu is now testing its new customer relationship program that offers rewards: Nunos. Through gamification, the feature aims to help customers progress in their financial journey and celebrate achievements, unlocking discount coupons, gifts, and other rewards. 

This is yet another step in further engaging our ever-growing base of 65 million customers. In Q2’22, ​​Nu registered a record-high activity rate of 80%, also becoming the primary bank for over 55% of the monthly active customers who have been with the Company for over a year.

Money Boxes milestone. More than 2.25 million Money Boxes (Caixinhas) have been created by customers since the launch to a selected base in July. The feature, which allows investors to organize their savings into specific goals with different yields, is now available to all Nubank account customers in Brazil.

Security hub. To help and guide customers in case of scams, thefts and fraud, we launched SOS Nu, a hub with information detailing the steps on how to prevent and act in adverse situations, providing customers with a trustable source so they can make informed decisions with more confidence.

Investments, simplified. Nubank customers will have a centralized view of BDRs, stocks and FIIs (real estate funds) that pay recurring earnings, giving more visibility on all sources of passive income in a single place. Nu is reducing complexity when presenting investors with this information to increase their autonomy when making decisions about their assets.

FIFA World Cup Qatar 2022™. In our debut as Official Regional Supporter of the tournament, Nu will take 15 customers to watch eight group stage matches in Doha as part of a cultural contest. Additionally, the Company is offering 18 digital experiences in the Panini Sticker Album, including the possibility to make personalized virtual stickers, and special additional content accessible through a QR code in the album.

Financial education. Nu launched Papo de Patroa, a talk show hosted by Anitta in her first activity as Global Brand Ambassador, and Linn da Quebrada – Brazilian singer, actress, and screenwriter. In it, the artists look back on their own financial journey and share their learnings in a simple and direct way.

World class experts. 

• Alex Ceballos joined Nu as Chief Corporate Development Officer to focus on growing the company through new business and markets. Ceballos has 16 years of experience at Amazon and will report to David Vélez, Nubank's founder and CEO. 
• Nubank also welcomed technology expert Adrian Cockcroft this month as the Company's first Tech Advisor to share his knowledge on technical strategy, cloud, platformization, architecture, open source, ESG, and other subjects, while Nu scales its operation internationally. 

Open Finance. Nubank joined Open Finance this month, broadening the possibilities to further understand customers’ behaviors and increasingly improve our portfolio. The move also paves the way to offer customers greater control over their financial lives through a transparent and accessible experience – allowing them to manage their finances and data autonomously.
 

BDR Program Restructure. Nubank announced a plan to implement a phased restructure of its Brazilian Depositary Receipt (BDR) program from Level III to Level I and request cancellation of its foreign issuer registration in Brazil with CVM. Pending approvals from CVM and B3, the Company aims to increase efficiency and build long-term value for investors and customers.

• Nubank’s expansion strategy, which includes Crédito Consignado and the future launch of Cuenta in Mexico and Colombia, was highlighted in articles in the Brazilian outlets Estadão and Valor.
   
• Folha highlighted the fast expansion of Money Boxes, which reached more than 1.7MM customers, with more than 2.25MM boxes created one week after its complete rollout. Bloomberg Línea showed how the product can progressively contribute to reducing Nubank’s cost of funding and improving its revenue per customer.
   
• A Morgan Stanley analysis states that Nubank could register the highest earnings growth of the financial sector in Latin America in the next three years, reports Veja.
   
• Wall Street analysts are increasingly optimistic about Nu’s earnings prospects, which reflects in short-term price targets. 
   
• David Vélez gave an exclusive interview to Reuters, speaking about Nubank’s long-term plans, such as tripling the customer base in Brazil, and the Company’s interest in M&A.
   
• Cristina Junqueira, Nubank co-founder and Brazil CEO, spoke about Nu’s business model and successful history of growth and international expansion in Primocast.
   
• The arrival of Alex Ceballos with a focus on Nu’s expansion strategy was featured in Exame, and Valor published the news of Adrian Cockcroft bringing his expertise as the Company’s first Tech Advisor.
   
• Nu’s security hub, SOS Nu, was highlighted by G1 in an article that showcases how the Company aims to help customers know how to prevent and act in adverse situations.
   
• Emilio González, Nu Mexico General Manager, spoke about the growth potential of credit products in Mexico and their social impact during the Annual Convention of Asociación de Sofomes (Asofom) in the country.

(Articles in this section may be subject to a paywall and available to subscribers only, depending on the news outlet.)

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