Warren Buffett-backed Nubank reported a 44% increase in profits in the second quarter, as it expands its customer base in Latin America.
Nubank is the top receiver of customer data, outlining fintech's significant opportunities in Open Finance in Brazil.
Despite a challenging scenario for Latin American fintechs, neobanks and digital wallets in Brazil continue to sign up millions of clients.
Nubank is developing a risk appetite for unsecured loans, while it expects to roll out payroll lending in the following quarters.
Digital banks in Brazil are finally making inroads into one of the most competitive and highly profitable credit markets in the world.
Fintechs in Latin America market high-yield saving accounts to win customers off from traditional financial institutions.
Nubank's second product in Mexico was well received. Country manager Ivan Canales discusses the market strategy with Fintech Nexus.
For the second time this week, we can take time to celebrate some good news in the lending space, as Monzo reported monthly profitability for the first time.
Nomad, which offers dollar accounts to Brazilians, will now allow its customers to pay in installments for purchases made abroad.