Jayme Chataque

Web Summit Rio 2024 is about to start! Stop by JP Morgan's booth E343 in Pavillon 3 and let us help you rethink what payments can do for you. #WebSummitRio #JPMorganWebSummitRio #jpmorgan #payments

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Key take-aways: The Central Bank of Brazil released a report indicating a decrease in the concentration of the banking sector. The four largest banks in Brazil (Itaú, Bradesco, Banco do Brasil, and Caixa) saw their market share in credit and total deposits decrease slightly from 2021 to 2023. The decline in banking concentration is linked to the growth of non-bank institutions and credit cooperatives. The Central Bank changed its concentration metrics in 2021, making long-term comparisons challenging, but a significant decrease in concentration over the last decade is evident. Fintechs have attracted primarily unbanked or under-banked individuals, expanding financial access. #Banking #fintech #emergingrisks

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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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Nubank, the digital banking leader in Brazil, introduces a new Global Account in collaboration with Wise to serve its affluent customer base known as “𝗨𝗹𝘁𝗿𝗮𝘃𝗶𝗼𝗹𝗲𝘁.” This move represents a strategic entry into the high-income market segment. 💳 𝗨𝗻𝗶𝗾𝘂𝗲 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀: The Global Account allows seamless currency conversion within the Nubank app, offering competitive conversion rates of 0.9% - the lowest in the segment. Users can convert Brazilian Reais to dollars and euros without inter-account transfers. 🌍 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲 𝗳𝗼𝗿 𝗧𝗿𝗮𝘃𝗲𝗹𝗲𝗿𝘀: Nubank’s Global Account offers greater convenience than traditional credit cards, with up to two free monthly foreign currency withdrawals. Customers also receive a virtual SIM card with 10GB internet access across 40 countries to stay connected without worrying about roaming charges. 📈 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗙𝗼𝗰𝘂𝘀: Nubank aims to expand its presence in Brazil’s affluent market segment, leveraging tailored financial solutions and unique benefits to attract high-income customers. 💬 𝗖𝗘𝗢 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: David Velez, CEO of Nubank, emphasizes the importance of catering to high-income customers and plans to launch more products tailored to this segment in 2024. Source: https://lnkd.in/dM5dXziE https://lnkd.in/dPYPJ65m Exciting times ahead for Nubank and Wise! 🚀 #Fintech #GlobalAccount #Nubank #Wise #AffluentMarket #Innovation

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𝐇𝐞𝐥𝐥𝐨 𝐞𝐯𝐞𝐫𝐲𝐨𝐧𝐞! 👋 𝐈 𝐚𝐦 𝐬𝐡𝐚𝐫𝐢𝐧𝐠 𝐦𝐲 𝐭𝐨𝐩 𝐧𝐞𝐰𝐬 𝐨𝐧 𝐄𝐒𝐆, 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐬, 𝐚𝐧𝐝 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲! 𝐄𝐧𝐣𝐨𝐲!🌍🏦🌱 1️⃣𝐆𝐥𝐨𝐛𝐚𝐥 𝐔𝐧𝐢𝐭𝐲 𝐀𝐢𝐝𝐬 𝐁𝐫𝐚𝐳𝐢𝐥'𝐬 𝐑𝐞𝐜𝐨𝐯𝐞𝐫𝐲 🌍The WFCU and the WOCCU launched a relief fund of $15,000 for Brazilian credit unions affected by severe flooding in Rio Grande do Sul, which impacted over 150,000 people and damaging 38 branches of Sicredi, Brazil's largest credit union network. WOCCU (13 May, 2024) 2️⃣𝐋𝐚𝐭𝐢𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐂𝐚𝐫𝐢𝐛𝐛𝐞𝐚𝐧: 𝐌𝐚𝐣𝐨𝐫 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐧 𝐖𝐚𝐭𝐞𝐫 𝐒𝐚𝐧𝐢𝐭𝐚𝐭𝐢𝐨𝐧 💧Finance ministers from Latin America and the Caribbean met with the Inter-American Development Bank, UNICEF, and the Sanitation and Water for All partnership to address inadequate sanitation for 450 million people and irregular water services for 200 million. The initiative aims to create 3.4 million green jobs annually by boosting public finance, leveraging development banks, and attracting private capital to improve water and sanitation, essential for public health and economic growth. UNICEF (19 Apr, 2024) 3️⃣𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐋𝐚𝐭𝐢𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐂𝐚𝐫𝐢𝐛𝐛𝐞𝐚𝐧 𝐄𝐱𝐩𝐚𝐧𝐝𝐬 𝐂𝐚𝐫𝐢𝐛𝐛𝐞𝐚𝐧 𝐌𝐞𝐦𝐛𝐞𝐫 𝐁𝐚𝐬𝐞 🌴📈CAF has expanded to include Bahamas, Dominica, and Grenada as members, doubling its Caribbean representation. This expansion is part of a broader initiative to support regional development, focusing on sectors like clean energy and sustainable tourism through new funding facilities for economic and social progress. CAF (17 Apr, 2024) 4️⃣𝐉𝐮𝐝𝐠𝐞 𝐇𝐚𝐥𝐭𝐬 𝐂𝐫𝐞𝐝𝐢𝐭 𝐂𝐚𝐫𝐝 𝐅𝐞𝐞 𝐑𝐮𝐥𝐞 ⚖️A Texas judge halted a CFPB rule to reduce credit card late fees from $32 to $8 for large issuers. The U.S. Chamber of Commerce, backed by business and banking groups, sued, arguing it would disrupt operations and exceed CFPB's authority. The CFPB claims the rule would save families $10 billion annually. CU Times (13 May, 2024) 5️⃣𝐎𝐤𝐥𝐚𝐡𝐨𝐦𝐚 𝐇𝐚𝐥𝐭𝐬 𝐀𝐧𝐭𝐢-𝐄𝐒𝐆 𝐋𝐚𝐰 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 🛢️Oklahoma Attorney General Gentner Drummond dismissed the legal team defending a state law that prevents state pension systems from contracting with companies limiting oil and gas investments. This follows a judge's temporary injunction citing potential constitutional issues and vagueness. Drummond's action highlights ongoing disputes over ESG-related laws targeting financial restrictions on fossil fuel investments. Reuters (10 May, 2024) 𝐒𝐞𝐞 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐚𝐫𝐭𝐢𝐜𝐥𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬!👇 #UISNetwork #SustainableFinance #ESGInvesting #SustainableInvesting #ImpactInvesting #ESG #ESGReporting #GreenFinance #Sustainability #CreditUnions

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Brazil’s PIX payment system, developed by the Central Bank of Brazil (BCB), has indeed been a game-changer in the financial sector. Since its launch in November 2020, PIX has become a ubiquitous payment method in Brazil, offering a fast, convenient, and cost-effective alternative to traditional payment methods. Think about it: in just three years, PIX has become the go-to method for payments, and I’m all for it. The convenience is unmatched, and the cost savings for online retailers are just the cherry on top. 🏦📈 Here’s the scoop: 💡Explosive Growth 💡Saving Money 💡Credit Cards Dropping 💡Innovative Features Major banks and fintech companies like Banco Itaú, Caixa Economica De Cabo Verde S.A.ômica, Banco do Brasil, Nubank, Santander Brasil, Bradesco, Redelcom | Mercado Pago, C6 Bank, and Inter have adopted PIX, integrating it into their services and promoting its use among their customers From my perspective, PIX is reshaping the payment landscape in Brazil, making transactions faster, easier, and cheaper. ✨🌐 As PIX continues to evolve, I genuinely believe we’re witnessing a pivotal shift. Traditional credit cards might just be on their way out, and I say, “Bring on the change!” 💳❌ #Pix #DigitalPayments #Brazil #Ecommerce #Fintech #PaymentRevolution

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We at PCMI continue to be amazed by Pix's success in Brazil. As Pix P2M volumes close the gap with credit credit cards, the question of how the card industry should respond is becoming more urgent. Cesar Boralli and I share some thoughts on this in our latest article. https://lnkd.in/gcyQuJ6V

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Make sure you stop by booth #15 to learn how we can help your business embrace the future of retail banking!

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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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Santander Brasil / Sim Santander and FARMly celebrate this partnership focused on promoting easy and fair conditions of access to credit for Farmers and Coffee Producers. #FARMly 24x7 working to offer well-designed solutions that aim to empower our customers, everyday and at any occasion of their lives. And let´s go for more! #fintech #agrifintech #financialwellbeing #coffeeproducers #agrobusiness #impactfulbusiness

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ESG is trending. On a personal note, I’m glad it is becoming a topic some many talk about, including informally. On a positive note, it is quite relevant that it is discussed and becomes part of normality. On the other hand, I hope it doesn’t get swept under the carpet when another trend emerges. It is very important that citizens and companies join efforts to be better on Environmental-Social-Governance topics. They are our true path for sustainability. I had a quick chat about this with Nuno Moreira da Cruz that has been a huge defender of these topics. At Mastercard we are committed to contribute to ESG’s goals, both internally and externally. Working with our employees, clients and partners. Step by step. #esg #sustainability

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A technology having a customer centric approach with a scalable business model

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Every Neobank will be a Mobile Network? Nubank appears to be trying. Here's my take 👇 👀 Nubank will give mobile service via eSIMs to travellers in more than 40 countries. The news follows Brazil's National Telecommunications Agency greenlighting Nubank becoming a full MVNO. They're starting with eSIMs for now, following Revolut's launch of eSIM functionality for premium subscribers. 👉 What's an eSIM? The electronic SIM card, gives much lower cost data, calls, and text when traveling and can be instantly provided to your mobile phone) 🧠 The Neobanks wouldn't launch this feature unless customers wanted it. There's a clear demand for it, and it helps the Neobanks attract a more profitable traveler customer segment. This is especially useful for Nubank, which has been stronger in subprime historically. 🧠 eSIMs are a great way to convert users into subscribers. Affuluent customers travel more, and data roaming fees are the kind of speed bump and niggle that people often accept but rarely fix. Bundling it into your Neobank is neat. It brings the Neobank closer to travel, and it brings you the user, closer to paying a subscription with them. 🧠 How long until every bank tries to offer this feature? The classic "premium account" with mobile phone insurance has passed its prime. On the other hand, eSIMs are a great way to solve roaming fees and are of great value. Most people don't use specialist eSIM apps so why wouldn't it be bundled right next to where you manage your money? #fintech #neobanks #nubank #payments

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🚀 Discover the future of secure and innovative payment solutions! Ready to elevate your operations? PM me for a demo to learn more about the PayBrokers’ pre and post regulation products, services and features for the Brazilian market 🇧🇷 #PayBrokers #iGaming #PaymentSolutions #Innovation #SecurePayments

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As well as other neobank, Nubank is venturing into telecommunications. #Nubank, the Brasilian disruptor in banking, is set to redefine the telecom landscape with its upcoming venture into mobile services. Anatel, Brazil's national telecommunications agency, has given the green light to a groundbreaking partnership between Nubank and Claro Brasil. This collaboration paves the way for Nubank's entry into the mobile market through the launch of its own Mobile Virtual Network Operator (MVNO). The agreement, approved after months of anticipation, marks a significant milestone in Nubank's evolution beyond traditional banking services. While not directly involved in this venture, it's noteworthy that Guilherme M. do Lago, Nubank's CFO since February 2021, is listed as one of the administrators of Nucommerce, the entity spearheading this initiative. Nubank's bold move into telecommunications has garnered attention from both industry insiders and investors alike, signaling confidence in the company's ability to diversify and innovate. As other fintech like Revolut did recently, Nubank's entry into the telecom sector introduces a new player to the market, potentially shaking up existing dynamics and fostering innovation and competition. With its track record of customer-centric innovation, Nubank's foray into mobile services could herald a new era of affordable, user-friendly telecom offerings, challenging incumbents to up their game. Am I the only one spotting an interesting trend here? The article on Tecnoblog 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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Such a great story how Customer-centric digital model can become successful and outpace traditional banking intitutions… 100 million customers and profit after 11 years can be envied by many… #DigitalBanking #FinTech #Marketplace

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I recently returned from Brasil, Colombia, and Mexico, i was very keen to explore the market dynamics there. I was surprised by the limited availability of fintech services, despite actively searching for them, shopping online, inquiring about payment options at every POS, and discussing financial services with my family and friends in Brasil and Colombia to gain a better grasp. Here is my experience : Brazil: A week here, I didn't need cash at all; digital payments were accepted everywhere. i hold a local bank account and was able to use PIX (very seamless), TED (similar to instant EFT), and Boleto, I wasn't exposed to crypto, BNPL, or other financial solutions, most people didn't know what i was talking about, Sao Paulo prohibits outdoor advertising limiting exposure to fintech advertising. Colombia: Two weeks here were challenging. Here i had the most issues paying for anything, uber, food delivery, flights etc. using my card felt like a gamble, so much so that I switched to cash after just two days. At points of sale, I noticed that most merchants accepted Redeban, which offered QR code functionality. i was eager to try so I opened a BBVA Bank account after a couple of attempts it was not seamless at all. I encountered only two other fintech services, Addi (a BNPL service) and PayU (through Betplay advertising). Among the locals I spoke with, none owned crypto, and insurance coverage is dominated by large insurers like Allianz and Bolívar, I also realised my family knows nothing about Fintech. Mexico: Two weeks here i noticed a higher number of financial options available, I only had one issue using my card on Vivaerobus, other than that, paying was seamless, there is a Oxxo everywhere you go in mexico, they like spazza shops but with Tacos and Hotdogs, here i can buy a voucher and pretty much pay for anything online, i was also told i could send and receive remittances and withdraw cash, other options i saw was mercado pago, PayU , and paycash. only one person i spoke had crypto other than this like in Brazil and Colombia, there was minimal exposure to other fintech products through advertising. After this experience, I am immensely proud of the fintech industry's development in South Africa. The strides made in recent years and the role of fintechs in shaping our financial system that facilitates access to financial services are commendable; We have so many solutions available that are easy accessible, I mean from the moment I landed back in South Africa to the time I reached my home, I was exposed to a variety of fintechs like Payfast, Luno, Valr, Lulalend, Naked, Pineapple, Capfin, Mukuru, Payflex, a Bitcoin ATM, and LayBuy. I'm really excited to see the industry continue to grow.

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