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.
Making news in fintech this week was the former Silicon Valley Bank CEO, Microsoft, Goldman Sachs, OpenAI, Nubank, Truist,. Jack Henry, FedNow, Ripple, Dave and more.
Brazilian Nubank reached 79.1 million customers in Latin America by early April. That is up almost 20 million compared to a year ago.
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.
Nubank, the largest neobank in Latin America, nearly doubled its revenue in the first quarter to $1.6 billion, up 87% year-over-year.
Nubank and Ualá expanded to Colombia to boost customer acquisition. Replicating success in Latin America is no easy feat for digital banks.