In another step of its AI-first strategy, Nu announced the acquisition of data intelligence company Hyperplane. The platform will leverage Nu’s rich data to evolve model training, impacting multiple areas, from credit to marketing.

Also in this edition: Nubank successfully completes a R$1 billion Financial Bills offering; proprietary research shows that 43% of people who got their first credit card with Nu have also saved money; and more.
 

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Nu announced the acquisition of data intelligence company Hyperplane, a platform that enables financial institutions to train, evaluate, and deploy self-supervised deep-learning models. The platform will serve as a central hub for training hundreds of models across various business areas, such as risk, collections, and marketing. 

With over 100 million customers, Nu has a rich database to feed and shape AI models in the best interest of its users. This allows for further personalization of products and services, a crucial step in executing the company’s Money Platform vision of putting a private banker in customers’ pockets.

Recap: Learn more about Nu’s AI strategy in this episode of the Nu Videocast.

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Nu Videocast: Open Finance. The latest episode of the Nu Videocast brings a deep dive into how Nu leverages Open Finance to deliver innovative, customer-centered products, based on quality data. You can find all previous episodes in our Newsroom. 

Financial bills offering. Nubank has successfully completed its first public offering of Financial Bills, totaling R$1 billion and receiving the ‘AAA.br’ rating from Moody’s. The transaction drew strong demand from investors, nearly tripling the offering size.

Data Nubank. Proprietary research showed that, over five years, Nubank enabled nearly 21 million Brazilians to access their first credit card. 43% of those people also managed to save money, which indicates a healthy financial journey beyond access. Money Boxes play an important role in Brazil and Mexico.

Amplified access. Nu has connected over 3 million customers to the Brazilian government portal (gov.br) in a partnership that helps increase efficiency and access to over 4,200 digital government services. Nu is now the institution that generates the most user connections. 

Financial education for kids. Disney Advertising Sales & Partnerships produced and premiered “It’s Not a Monster,” a Nubank Ultravioleta short film that playfully addresses financial education for children. 

Awards and recognition. Nu was featured on CNBC and Statista's World’s Top Fintech Companies 2024, and on The Banker’s Top 1000 World Banks. On Euromoney’s Awards for Excellence 2024, Nu was considered the best bank in Brazil, and the best digital bank in Latin America, Brazil, and Mexico.

Crypto evolution. With a 1500% transaction growth and over 4.2 million users, Nu expanded its crypto price alert feature, enabling customers to set notifications for certain price changes. Additionally, with the goal of evolving its blockchain-based features and services, Nu partnered with Lightspark, a global leader in infrastructure for the Bitcoin Lightning Network.

New ETFs. In partnership with the Brazilian Stock Exchange, Nu launched two new Exchange-Traded Funds, LVOL1 HIGH11. The ETFs are part of joint work between the institutions to develop Smart Beta indexes based on Ibovespa B3, the most traditional in the market.

Mexico portfolio. Nu expanded the locations where customers can deposit money in Mexico, going from about 700 to over 4.400 options. The company also announced a new option to freeze funds in Cajitas (Money Boxes) for 90 days at higher yields.

NuPay in Shell. Customers in Brazil can now use NuPay – Nubank’s exclusive, more convenient, and secure payment option –  to make fuel payment transactions through the Shell Box app.

Nu's culture is a key element of the company's success. Founders David Vélez, Cris Junqueira, and Ed Wible detailed how customer-centricity and our other core values have made the company more valuable than any bank in Latin America.

"70% of the global profit pool of banks is in credit, so credit decision-making is crucial for the business. Doing credit well is the biggest opportunity available today," said David about the potential that stems from our acquisition of Hyperplane. Techcrunch highlights how the news adds to our AI focus. Vitor Olivier, CTO, spoke to Bloomberg Línea about the topic.

CFO Guilherme Lago highlighted how the successful public offering of Financial Bills reflects confidence from institutional investors and our capability to expand and diversify capital sources to support growth.

El Financiero published a guest column signed by David about the opportunity for financial inclusion in Mexico. The opinion article highlighted the relevance of Nu’s innovative agenda and the benefits of competition that it can bring to the market.

Cris Junqueira spoke to Valor Econômico about Mexico being Nubank's #1 priority in 2024 and how the company aims to keep its customer base expanding while supporting Mexicans' financial inclusion.

Nu is widening its portfolio in Mexico accompanied by an increase in the number of customers. Recent announcements include frozen Cajitas with higher yields and an expansion of our deposit network. El Economista highlighted Nu's presence in 98% of Mexican municipalities and the rapid growth of Cajitas’ customers in less than a year.

“Nubankers have the opportunity to deal with complex challenges in a collaborative space, where the impact of their work is felt daily in the lives of our 100 million customers”, said Suzana Kubric in an article by Valor about the challenges of hiring in tech.

Marcela Torres, Nu Colombia's Country Manager, discussed leadership, our development in the country, and Cuenta Nu's latest updates on the podcast El Lado V de Valora.

Fabiola Marchiori, Nubank’s VP of Engineering, participated in a panel discussion during Febraban Tech about technology’s role in financial services security.

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