As Nu scales its customer base in Brazil, it is investing in personalizing products and services for different segments, in order to offer more tailored value propositions. Livia Chanes, CEO of Nubank Brazil, detailed this strategic approach to growth in the latest episode of the Nu Videocast.

Also in this issue: Under-18 have been engaged with Caixinhas (Money Boxes), making recurrent deposits; the Payments Assistant feature has allowed customers to save millions of hours with automation and recommendations; and more.
 

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Customer Segmentation

Nubank currently has more than 95 million customers in Brazil, its first and largest market. In the company’s early years, the purple credit card attracted mostly young, tech-savvy individuals. Now, Nu serves a base that’s as diverse as Brazil’s population itself, with a wide portfolio of financial products and services, with specific value propositions for different customer segments.

In the latest episode of Nu Videocast, Nubank's CEO for Brazil, Livia Chanes, deep-dived into the company's segmentation strategy. From new products and experiences such as Ultravioleta for high-income individuals, to completely new segments, like SMEs and Under-18, Livia explains how Nu has been able to bypass a growth ceiling and create completely new avenues for future expansion through personalization.

Nu Videocast: Learn more about Nu's strategy on previous episodes, available in our Newsroom. 

Corporate information

Under-18. Over 80% of customers of the ages of 10 to 17 with active Caixinhas (Money Boxes) have shown recurrence in their savings. The company is rapidly advancing in the segment and focuses on solutions that drive financial education and responsibility from an early age.

Time efficiency. Customers saved 750 thousand hours –the equivalent of 85.5 years– in 12 months with Nu’s Payments Assistant. The artificial intelligence-based feature allows for automatization and personalization, through reminders and more efficient payments.

Ultravioleta campaign. Time-saving is also at the core of Nubank’s most recent campaign focused on high-income customers. "Expedição Ultravioleta" is a web series that explores international destinations, meaningful experiences, and how different cultures approach time. 

Forbes’ Top 10 CEOs. Livia Chanes was recognized as one of the 10 best CEOs in Brazil by Forbes. The magazine highlighted Livia's leadership style and her success in growing the company’s largest market

Limit increase. Customers can now use the money invested in Tesouro Direto (government bonds) as collateral to increase their credit card limits, allowing for greater purchasing power while their investments continue to yield.

Lower fees for crypto. Passing along its cost advantage to customers, Nu reduced the fees for trading cryptocurrencies through the app to as low as 0.6% per transaction, depending on the timeframe. This represents a 62.5% decrease from last year. 

ETFs expansion. Nu Asset Management launched NBOV11, the first ETF indexed to Ibovespa B3 BR+, now trading on the Brazilian stock exchange B3. The product offers diversification in investment strategies with a low 0.10% fee and easy D+2 liquidity.

Marketplace. Ultravioleta and Nubank+ customers had access to an exclusive pre-sale of the iPhone 16 and iPhone 16 Pro via Shopping do Nu using NuPay, the payment method for Nu users. Now, a new feature in Nubank Shopping offers direct access from the app to top discounts from over 150 partner stores, with exclusive perks like cashback.

David Vélez spoke to Kate Rooney on CNBC’s ‘Power Lunch’ to discuss Nubank’s strategy, as Berkshire Hathaway’s best performer. He also participated in the Tres Respuestas podcast, hosted by former Colombia president Iván Duque. Nubank’s founder and CEO spoke mainly about his trajectory and Nu’s growth in the past decade.

Moody’s increased Nu Holdings’ credit rating from Ba2 to Ba1, with a positive outlook.

In an interview with El Economista, Iván Canales, Country Manager, mentioned the impact of Nu Mexico obtaining a banking license and the competition it would generate in the Mexican market. At Finnosummit 2024, he spoke about those changes in financial inclusion in the country. Iván also participated in the Mexico-Brazil business forum.

Andrés Kikuchi and Pedro Lula Mota, from Nu Asset Management, wrote an Op-Ed in Brazil Journal on how ETFs are rapidly gaining popularity and transforming the financial market, a growing trend also in Brazil.

Suzana Kubric spoke to StartSe about our Employee Value Proposition (EVP) and how Nubankers understand that making the extraordinary happen requires dedication, a sense of ownership, and high performance.

Óscar Cadena, Nu Colombia’s Public Policy Principal, participated in a special program of Blu Radio on interest rate caps and their negative impact on the Colombian economy. Valora Analitk highlighted that César Ferrari, Financial Superintendent in Colombia, supports Nu CEO David Vélez's proposal to eliminate the usury rate cap. Vélez argues that removing the cap would enhance financial inclusion and offer better credit access.

360 Radio shared that customers can now convert their Nu Colombia accounts into payroll accounts. This feature enables customers to receive their salary directly at Nu, offering an easy and convenient way to manage their finances.

In the AMVO podcast, Claudia Alva, general manager of Nu Marketplace, discusses best practices for bringing innovation to any company.

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