Gustavo Justi

Nubank enters the mobile network market with eSIM services #Nubank, the NYSE-traded Brazilian #fintech neobank, is making its first foray into the mobile network sector with the launch of an eSIM (embedded SIM) service for travelers. This new offering allows customers to access 10GB of free roaming internet in over 40 countries without needing to switch out their existing SIM card. Nubank's entry into the mobile network market is backed by significant growth and strong investor confidence. The company has seen its valuation surge by 170% in the past year, reaching an all-time high of $58 billion. This move into eSIM services is expected to further enhance its market presence and customer engagement. This strategic expansion into mobile services underscores the synergies between financial services and telecommunications. By bundling mobile plans with its banking services, Nubank aims to turn occasional users into regular subscribers, driving loyalty and engagement. The eSIM service, powered by Gigs, simplifies the regulatory complexities and provides a seamless user experience. Hermann Frank, CEO of Gigs, highlighted the potential of this partnership, stating, “Bundling mobile plans represents a powerful lever for neobanks to turn irregular users into monthly paying subscribers, encourage upgrades to premium features, and create an ecosystem where banking acts as a hub for multiple value-added services.” Nubank's innovative approach echoes similar moves by other neobanks like Revolut and Zolve, which have also entered the mobile network space. This trend is expected to grow as more financial institutions recognize the value of integrating mobile services to enhance customer offerings and streamline digital experiences. David Vélez and his team are excited about this new venture, which aligns with Nubank’s mission to challenge the status quo and offer more value-added services to its customers. As Nubank continues to innovate, it is well-positioned to lead the convergence of banking and telecommunications, providing seamless and efficient solutions for its global customer base. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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In Brazil 🇧🇷, Iniciador, a Brazilian B2B company providing an Open Finance platform for banks and FinTechs, has accelerated identity verification using users' banking data. 𝗛𝗲𝗿𝗲 𝗶𝘀 𝗵𝗼𝘄 𝗶𝘁 𝘄𝗼𝗿𝗸𝘀: Through the Cadastro Expresso (Quick Registration) product, it's possible to bring customer information already validated by financial institutions in just 2 clicks and without the need for manual inputs. This reduces friction in onboarding and strengthens security against fraud by making it difficult to use false or stolen information to open fraudulent accounts. See diagram below👇 Read all about this topic, and more, in another great newsletter by Walter Pereira: https://lnkd.in/eAr3-tBh Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #openbanking #openfinance #digitalbanking #kyc #identity #banking #fintech #fintechindustry #financialtechnology #bankingtechnology #regtech

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Brazilian neobank 'Nubank' made waves recently as it announced reaching 100 million customers across Latin America. Jag Duggal, Chief Product Officer at Nubank shares his views on how he looks at the business. "Nubank is a technology company. Without it, our business is not viable. But we are not interested in technology for technology's sake. We are interested in how technology can be used to improve customer lives, and how it can address customer pain points in a fundamentally different way. Our business is the marriage between an obsession with the customer and technology". Listen, technology is a great enabler, but it's a means to an end. Ultimately, the solution you build is a crowd-puller if it's developed around customer needs.

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𝟓 𝐏𝐨𝐰𝐞𝐫 𝐌𝐨𝐯𝐞𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐎𝐩𝐞𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐢𝐧 𝐁𝐫𝐚𝐳𝐢𝐥 𝐚𝐧𝐝 𝐂𝐡𝐢𝐥𝐞 🌎 🇧🇷 Brazil Levels Up Open Finance with Streamlined Pix and Broader Participation ➊ Banco Central do Brasil and the National Monetary Council (CMN) have introduced new rules to streamline the payment initiation journey with Pix, Brazil's instant payment system. This includes enabling contactless transactions and expanding the range of institutions required to participate. The establishment of a definitive governance structure marks a significant step towards a more organised and accessible financial landscape. ➋ Noda’s expansion into Brazil brings cross-border multichannel payment services, unified reconciliation, single onboarding, and instant banking and money transfers across Brazil, Europe, the UK, and Canada. This expansion simplifies the operational complexities for merchants by enabling seamless cross-border transactions. Businesses can now cater to a broader audience with minimal friction, enhancing their global reach and operational efficiency. ➌ Mercado Pago, Noh, and Iniciador begin offering "Smart Pix" transfers, allowing automatic transfers via Pix between accounts held by the same user with a single authorisation. This feature marks a significant advancement in the user experience, offering a convenient and secure way to manage multiple accounts. It’s a game-changer for individuals and businesses alike, streamlining financial management and reducing the administrative burden. ��🇱 Chile Sets the Stage for Open Finance Revolution ➍ Chile’s Comisión para el Mercado Financiero (CMF) has rolled out the regulations for the Open Finance System under the Fintec Law (No. 21,521), with a 36-month implementation timeline. This regulation is expected to foster greater competition and financial inclusion by enabling new financial service providers to enter the market. ➎ Floid introduces pay-ins and payouts offerings, aimed at facilitating online transfers and enhancing its service offerings within the Open Banking framework.  By providing a comprehensive suite of financial services through a single provider, businesses can offer a more integrated and user-friendly payment experience, which is critical in a digital-first economy. ________________ ♨️ Latin America's open finance revolution is picking up steam, and these recent developments are a glimpse into a future of more accessible credit, innovative financial services, and a booming fintech landscape. To understand the big picture and explore the broader implications of Open Finance in Latin America, check out our blog post. Gain a comprehensive view of how Open Banking and financial players are teaming up to build a more mature and democratic credit market in the region ➡️: https://lnkd.in/ggr37zDy via Walter Pereira X WhiteSight #fintech #openbanking #openfinance #payments #PIX #LATAM #regulation

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I bring good news about Pix payments in 2024!   If you're not familiar with Pix, it's an instant payment method that the Brazilian Central Bank (Bacen) developed in 2020.   It completely changed the payment landscape because of its confirmation and settlement time and because it is significantly less expensive than debit and credit cards for merchants.   Pix has been so successful that central banks in various countries are now joining efforts on a project called Nexus, aiming to enable instant fund transfers internationally, just as Pix does within Brazil.   In continuation of the Pix development roadmap, Bacen has announced that by the end of the year, we will see the launch of “Pix Automático,” which will allow for recurring payments. It was initially scheduled for April, but its complexity pushed the release to October.   Another much anticipated feature is “Pix Garantido,” which will enable payments in installments through Pix.   If you work in the payments industry, you probably know that in Brazil, especially for higher-priced products, installments is the preferred payment method.   My personal favorite upcoming feature is Pix as contactless payment option. Soon, we will be able to use Pix for NFC payments.   Although the functionality of contactless Pix payments is still unclear, this advancement will make Pix payments easier for those whose phones have the technology.   It's important to note that even though Pix transactions are as instant as A2A transfers, there is a security risk since you must have your bank account open on your banking app to make a Pix payment and contactless Pix payments has the potential do eliminate the risk.   If you want to learn more about payments in Brazil and its complexities and benefits, feel free to drop me an inbox!   #PixPayments #FinancialInnovation #DigitalBanking #PaymentSolutions #InstantPayments  

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😳 😲 THIS DATA IS CRAZY! 😲 😳 Between these two payment methods, which are NOT CARDS, they have over 500 million individual users and process on a monthly basis just over half a trillion dollars. I was even more surprised that even though pix (operated by the Banco Central do Brasil) was only started in 2020, it now processes more monthly than UPI (operated by the National Payments Corporation Of India (NPCI)). With this is mind where can you access both of these payment methods via a SINGLE PLATFOM? PPRO of course, if you are interested to know more drop me a line. Thanks Marcel van Oost for sharing. #payments #india #brazil #alternativepaymentmethods

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Tap to PIX? W-o-w. The president of the Brazil's Central Bank said yesterday he is working to enable that "soon". Just imagine the breakthrough in adoption. Also, regarding other upcoming PIX features, quoting him: 'For those recurring bills, such as Spotify and Netflix subscriptions, you'll soon be able to set them up on PIX Automático.' Intriguing, right? 😉 If you're a global company interested in accepting PIX, ensure you consult EBANX to make the most informed decision. https://lnkd.in/dDframR5

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Pix, the payment method created by Banco Central do Brasil, has already established itself as the leading payment option in Brazil. But that's just the beginning! By incorporating key features from other #payment options, Pix continues to position itself as the most modern and cost-effective payment method available. In its upcoming phase, Pix introduces use cases similar to those offered by credit card tokenization. The new Pix Automatic functionality is set to revolutionize the recurring payment industry, simultaneously reducing costs and risks for subscription clubs and streaming platforms. #Pix #paymentmethod #Brazil #innovation #subscriptionclubs #streamingplatforms https://lnkd.in/d23beb6i

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There are three major movements in the payments arena right now: 1️⃣ Open Banking Close to 100 countries are either studying, implementing or have implemented with some good cases already. This includes Brazil, UK, the EU, Mexico, Australia, South Korea, , Nigeria, Russia and Japan among others. 2️⃣ CBCD ( Central Bank Digital Currencies) 130 countries worldwide are studying, implementing or have implemented. Including Brazil, Japan, India, Australia, South Korea, South Africa, Russia, the EU and Turkey. 3️⃣ A2A payments More than 70 countries are studying, implementing or have implemented. Including Brazil, the EU, the US, Canada, Australia, South Korea, Malaysia, Philippines, and Thailand. PS: There are 195 countries in the world. Of those represented above represent large % (+60%) if we consider GDP - Economy factors.

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Nubank the largest digital bank outside Asia has achieved a significant milestone by surpassing Itaú Unibanco to become the most valuable bank in Brazil. This comes on the heels of Nubank reaching 100 million customers. The rapid ascent of Nubank can be attributed to key factors that highlight its strengths and potential for future growth. 1. Profitability and Financial Performance: Nubank has demonstrated robust profitability, reporting a profit of R$ 5 billion last year. 2. Customer Base and Growth Potential: While both Nubank and Itaú Unibanco boast millions of customers, Nubank has a unique advantage in terms of growth potential. The company currently extracts relatively little value from its vast customer base, particularly in areas such as card usage. This indicates that there are clear avenues for Nubank to expand and increase its revenue streams, leveraging its existing customer base more effectively in the future. 3. Cost Efficiency and Digital Innovation: Nubank’s operational model is markedly more cost-efficient. The “cost of serving” a customer at Nubank is approximately 85% lower than that of its conventional counterparts. This cost efficiency allows Nubank to achieve higher results with fewer fixed costs. Additionally, Nubank’s strong digital foundation and ongoing digitization efforts, including advanced artificial intelligence initiatives, are expected to drive revenue growth without a corresponding increase in costs, further enhancing its competitive edge. Hats off to David Velez and Nubank team for this important milestone! #nubank #digitalbank

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Payment cards are just bits of plastic, right? Watch this video for a great insight into the complexities of creating those little bits of plastic we all rely on so much. This is what #IDEMIA does - we take the complex, and we make it easy - for you - the end user. Complex tech, simple life.

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Banco Central do Brasil is the only Central Bank which functions as a #Startup… Find herein below, some more steps in the long-term vision to an Open Finance Ecosystem!

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Meet 🐧Denis Maciel, Head of Data at re:cap! 👋 Hello, I’m Denis! I lead the data efforts at re:cap. The data team has a wide range of tasks. Among other things, we’re responsible for implementing the risk model that powers our funding and for the algorithm that classifies bank transactions. Maintaining our data warehouse, which enables re:cap’s internal reports, is also one of our duties. 👨‍⚖️ Fun Fact It took some trial and error for me to get to where I am today. It all started in Brazil, where I got a law degree. Pretty quickly, though, I realized that law wasn’t my jam. So I packed my things and moved to Berlin. There, I studied economics. That’s when things started to click. As an economics student, I got in touch with programming and data analysis and finally found out what I’d be doing for a living: writing code to crunch data. 💻 WFH must have To start my day, I don't need much: a decent cup of coffee and hefty bottle of water – and I'm good to go. ❓ Why re:cap?  At re:cap, I'm surrounded by people who are both kind and smart. Together, we're building products that users truly want, products that help the business of our customers thrive. Subscribe to our newsletter and join 1,736 others already in the loop: https://lnkd.in/e_3bDqms

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🛡️ 🇧🇷 Enhancing E-commerce Security: Fraud Attempts Decline in Brazil 🛡️ Great news for the e-commerce community! According to the latest FraudRadar 2024 report by Equifax I BoaVista, fraud attempts in Brazilian e-commerce experienced a notable decline in 2023. The study revealed a significant drop in the percentage of fraud attempts, from 5.77% in 2022 to 4.09% in 2023, marking a commendable 29.11% reduction. Pedro Tavares, Superintendent of Anti-Fraud at Equifax/Boa Vista, emphasized the importance of these findings, highlighting the progress made in combating fraudulent activities in e-commerce transactions. However, he also cautioned that despite the decline, a 4.09% fraud attempt rate still represents a considerable challenge, urging online businesses to remain vigilant and proactive in their fraud prevention efforts. As we approach Mother's Day, a peak period for retail, e-commerce platforms must stay alert to the heightened risk of fraud. Last year, May witnessed a surge in fraud attempts, underscoring the need for robust security measures. Gabriel Vecchia, Senior Director of Sales at Signifyd in Brazil, stresses that effective fraud prevention isn't just an operational expense—it's an investment in safeguarding profitability and customer trust. Looking ahead to 2024, the outlook for e-commerce remains promising, with projections indicating increased consumer spending. With online purchases gaining traction among 77% of consumers, businesses have a prime opportunity to capitalize on this trend while prioritizing security and customer satisfaction. 💼💳 #Ecommerce #FraudPrevention #Security #BusinessInsights #CBHub #IgorPipolo #CrossBorder #Ecommerce #CrossBorderLogistics

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I believe emerging markets such as Brazil are leading in adoption of new payment methods Open Finance in Brazil When we look at the players in the Brazilian Open Finance Ecosystem, we can assume that it is still very restricted to the nancial market itself, with the exception of technology providers and some Fintechs for Payment Initiation, Data Processing and Personal Finance Managers (PFMs). The entry barrier is still very high and the end customer is still very selective. Another challenge has been the macro economic scenario, with a retraction in Venture Capital, bringing a shortage of financing and severely impacting Fintechs, at the end of 2022 and beginning of 2023, which has directly reflected on Open Finance Players. There is no consensus on the size of the global market. Available survey makes reference to Open Banking – to the detriment of Open Finance – and point to a CAGR of 22.3% - 27.2%, with a total market value between 123.7 and 135.1 billion dollars. But the fact is: alone, the Brazilian case has the potential to inject BRL 760 billion (USD 157 billion) into the concession of credit, with BRL 460.7 billion for individuals – considering the total potential for consumers to join the modality. Is anyone making money, after all? Clear and direct answer? Not yet! Most institutions, however, are starting to identify metrics that indicate their results and here we have, probably, the biggest challenge of Open Finance. For now, most only measure the big indicators (volume of consent, rates of membership, volume of API calls), however this does not necessarily indicate financial returns. Companies are still not clear on how to dissociate Open results from Open results BAU*, for pre-existing products. The recommendation is to follow a conversion approach! How much can Open experiences captivate or retain your customers better? When an information layer personalizes the offer o the point of increasing offer onversion, reducing defaults, improving risk reassessment, etc. Expected Financial Results There are still few solutions available on the market! There is no official ount in Brazil that indicates exactly the number of products and services generated from “Open Parts” (each regulatory or non-regulatory API that makes data, products or services open to be consumed by third parties). Febraban highlights around 45 products and services developed by its members. There are several others on the product and service menus of technology providers and fin echs. However, the consensus among the interviewees is that there are still few solutions available on the market! However, players group the results of these solutions in two ways: return of products and services created specifically for the OpF and i - pacts of using data to leverage existing products and services. 👉 Subscribe for more insights https://lnkd.in/d94JgWBU Source Capgemini #openbanking #openfinance #fintech Brice Ali Alex Nafis Monica Theodora Saleh

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🔍MACHINE LEARNING: THE STRATEGIC TOOL TO COMBAT FINANCIAL FRAUD IN LATAM Our latest article, "Machine Learning: The Strategic Tool to Combat Financial Fraud" by Rogerio Freitas is now live in Portuguese. Discover how AI is transforming fraud prevention in Latin America. Read more on bahia.com https://lnkd.in/g8EeC3cY #MachineLearning #FraudPrevention #LatinAmerica #FinancialCrimeFighters

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Real-Time Payments Market Landscape The first RTP network was launched in Japan in 1973,8 but it is only over the past five years that growth has exploded. Today, there are over 80 RTP networks operating around the world that accounted for 195 billion transactions in 2022 (18% of all global electronic payments transactions). ACI estimates that this market will grow at a compound annual growth rate (CAGR) of 21% to reach 512 billion transactions by 2027, representing 28% of all payments transactions. Most of this growth will come from EMEA (21% CAGR) and Latin America (29% CAGR). Emerging economies such as India and Brazil account for the majority of RTP transactions. These two countries alone represented ~61% of global RTP transactions in 2022.10 India launched their RTP network, Immediate Payment Service (IMPS), in 2010 but it was only in 2016 that growth really exploded with the rollout of their Unified Payments Interface (UPI). The system enabled real-time payments across numerous channels (P2P, C2B, B2B, and C2G) through mobile numbers, QR codes, and virtual IDs.11 In 2022, UPI facilitated ~90 billion transactions representing ~45% of all transactions in India. Brazil’s PIX instant payments network is driving a similar change in that country, as is the NIP system in Nigeria where cash transactions fell from 95% in 2019 to 80% in 2022. Developed markets have been slower to adopt RTP networks, with Europe and the U.S. processing only 13 billion (7% of all transactions) and 4 billion (2% of all transactions) transactions respectively in 2022.14 The U.S. has three established RTP networks: The Clearing Houses’ (TCH) RTP network, Early Warning Services’ Zelle mobile peer-to-peer instant payment application, which both launched in 2017, and most recently the Federal Reserve Bank’s FedNow, which launched in 2023. TCH’s RTP network has seen a significant increase in growth after a slow start, with 2Q23 volumes representing a 5.8x year-on-year (YOY) increase. Zelle, on the other hand, has seen substantial growth since launch and is the clear leader in terms of P2P real-time payments. Zelle is owned by a consortium of large U.S. banks that guarantee distribution by providing easy access for their large customer bases. RTP currently represents 12% of all credit transfers in the Single Euro Payments Area (SEPA) and McKinsey estimates this share could double by 2027, or even increase four-fold to ~45% of payments transactions if regulators pass anticipated legislation to encourage adoption of RTP. Subscribe for more insights https://lnkd.in/d94JgWBU Source Activant Research #payments #realtimepayments #fintech Enrico Marcel Richard Panagiotis David Efi Theodora Florian

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