Jose Manuel Silva

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.

68

3 comentários

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

18

1 comentário

Yesterday, Rafael Cavalcanti, Head of Data and AA (Bradesco) delivered a super insightful introduction to the banks digitalization journey and how they, as one of Brazils oldest incumbent banks, leveraged data and #AdvancedAnalytics to accelerate their digital #transformation and today is seen as a dominant player in bringing vital innovation in the region. A few key takeaways: To secure a strong transformation journey, banks need to bridge wast amounts of data with business experience and more importantly have a consistent #digitalization strategy. One of the challenges that can arise however stems from cultural aspects and sharing of data across business lines. Further, it is key to incorporate a team structure with dedicated technical support per business unit linking business and technical leads. A key theme however is striking the right balance between delivering the flexibility that business demands whilst maintaining the discipline that it requires to develop, run and maintain code in production. As Bradesco is managing more than 5pb of data, supporting more than 7500 users, it is essential to have a clear strategy on how to leverage data to deliver and secure the most valuable use cases for the business teams. At AQRISK Banking Solutions we certainly recognize the need to work across the business units and secure a stronger link between IT, Business, Finance and Risk Teams in order to fully operationalize the banks risk appetite. To boost #ProfitableGrowth it is vital for banks to leverage data and Advanced Analytics to not only empower the #frontline with insights on #profitability, but systematically provide a framework that enables the frontline business to simulate any changes to a customer portfolio (credit rating, ESG scoring, interest, other income, cost, product, haircuts etc) in real time and be educated around profitability impact and thereby secure more sustainable growth. As the market is requesting more #transparency and #RelationshipBased #PriceDifferentiation, it starts with the Relationship Managers understanding underlying pricing dynamics to provide the services needed and secures other KPIs that fosters trust and improves overall #NPS. #AQOPTIMIZER #McKinsey #GDBC2024 #DigitalBanking #GenerativeAI #21Conference #GenAI

5

Nubank moving into what appears to be the MVNO space. of course through partnerships by offering eSim to their customers as part of their move to enter the travel sector. The convergence is extremely interesting. but I am not too clear yet of the strategy other than to offer an additional means to target the sector. #digitalbanks #banking #cx #customerexperience

1

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!

9

Can we finally have a competitor for Pix in Brasil? ACI Worldwide and RS2 launch one-stop solution for acquirers and issuers #ACI Worldwide, a #fintech leader in real-time payments software, has teamed up with RS2, a leading payments processor and technology provider, to introduce a comprehensive solution for acquirers and issuers in Brazil. This partnership brings together the best of ACI’s and RS2’s acquiring and issuing capabilities, offering a powerful, cloud-enabled platform to support financial institutions, integrated software vendors, payment facilitators, independent sales organizations, and payment processors on their digital transformation journey. ACI Worldwide and RS2 are renowned for their expertise in the payments industry. ACI Worldwide, headquartered in Omaha, is led by a dedicated team focused on delivering mission-critical payments solutions. RS2, with its robust BankWORKS® platform, is a global provider of payment technology solutions, known for its innovative approach to managing payments across all channels. Available as a software as a service (SaaS) offering for the first time in Latin America, allowing financial players to launch new acquiring businesses cost-efficiently. This transforms the merchant experience, manages interchange fee risk, and simplifies global compliance. The platform is supported by ACI Fraud Management and Payments Intelligence, offering real-time enterprise fraud management capabilities through advanced machine learning, predictive analytics, and expertly defined rules to combat fraud. It meets all local regulatory requirements, including PCI and local card scheme standards. Vlademir Santos, Head of Brazil at ACI Worldwide, emphasized, “Our combined new solution will enable our customers to drive business growth through a modern and flexible solution and to take advantage of new revenue opportunities of launching new products and services.” Radi El Haj, CEO of RS2, added, “The constantly changing demands of customers to pay when, where and how they choose require innovation and financial agility from issuers and acquirers. Our advanced and fully integrated acquiring and card issuing capabilities, combined with ACI’s fraud and payments intelligence expertise, provide payment companies with the flexibility to design and configure new products, modify existing ones, and effectively manage future payments securely.” The announce on #ACIWorldwide website in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

48

1 comentário

Nubank, one of the world’s largest #digitalbanks , surpassed 100 million clients across its operations in Brazil, Mexico and Colombia. The Sao Paulo-based financial technology firm is the first digital banking #platform to reach the milestone outside of Asia. The bulk of business for Nubank, as the company is known, is in Brazil, where it has 92 million clients. It reported more than 7 million in Mexico and nearly 1 million in Colombia after ramping up investments in those countries to win market share. At the end of 2023 the client count stood at about 94 million. Nubank crossing the customers milestone is a significant achievement for several reasons, not just for Nubank itself but also as a signal to other #challengerbanks worldwide: 🌟 Scale and Market Penetration is Possible: Achieving 100 million customers demonstrates Nubank's ability to scale effectively and penetrate a significant portion of the #Brazilian market, which is notable in a country with about 213 million people. This level of scale shows that digital-only banks can compete effectively with traditional banks in large, diverse markets. 🌟 Validation of Business Model is executed well: Nubank's success validates the business model of digital banking, which relies on technology, user-friendly platforms, and #customercentric services to attract and retain customers. This milestone proves that a fintech can achieve substantial growth without the physical branch 🌟 Innovation and Disruption works even in banking: Nubank's growth showcases the power of #innovation in the financial sector. By offering simplified, transparent, and more accessible banking services, it has disrupted the traditional banking landscape 🌟 New Kids On The Blocks can reshape competitive environment: Nubank's milestone can influence the competitive #dynamics in the banking sector globally. It sets a benchmark for other challenger banks, pushing them to innovate and scale up their operations to compete. 🌟 Regulatory Impact: Nubank’s success could influence how financial services are regulated not only in Brazil but around the world. Regulators might be encouraged to adapt and #modernize their frameworks to help create a more level playing field between traditional and digital-first banking institutions. 🌟 Inspiration for Innovation: For other challenger banks globally, Nubank’s achievement serves as both a #blueprint and a motivational benchmark. It shows that with the right strategy and execution, it is possible to scale to a massive customer base even in markets that are traditionally dominated by a few large players. Overall, Nubank's milestone is a testament to the transformative power of technology in the financial sector and highlights the shifting dynamics. Do you agree? #fintech #digitalbanking #payments #neobanks #digitalassets

80

4 comentários

Join our Webinar next week and learn more about AI and how it will potentially affect your work. #ai #innovation

3

Publishers vão se aliar a OpenAI Aqui só um primeiro exeplo como : OpenAI has struck a deal with Reddit OpenAI will use content from the social media platform for its artificial intelligence chatbot, sending shares in the company up as much as 15 per cent in after-hours trading. Thursday’s announcement is the latest in a number of deals between the Microsoft-backed start-up and media brands as the competition for high-quality and reliable data to underpin powerful new AI models intensifies. At the same time, OpenAI is fighting copyright lawsuits from publishers who are reluctant to allow their content to be used by the ChatGPT-maker. The agreement gives OpenAI access to content on Reddit’s website and will allow the social media platform to embed more AI tools. Financial terms were not disclosed, but a jump in Reddit’s stock would mean a windfall for Sam Altman, the co-founder and chief executive of OpenAI, who has invested tens of millions of dollars into the social media group. Altman, who has said he has no equity stake in OpenAI, held close to 10 per cent of Reddit’s stock ahead of its public listing in March via various entities, according to public filings. The 39-year-old, a serial entrepreneur and investor, did not lead the negotiations with Reddit, according to OpenAI. The deal will also be a boon to Reddit’s monetisation efforts, which have until now mainly focused on building up its advertising-based business model. On its roadshow ahead of its listing, Reddit told investors that it also hoped to see a windfall from selling its data to third parties so that they could train their AI. It has already struck deals with Google and Cision. OpenAI has struck a series of deals with publishers this year, including the Financial Times, US-based Associated Press, Germany’s Axel Springer, France’s Le Monde and Spain’s Prisa Media. Those deals give the San Francisco-based start-up access to material which can in turn be used to develop and run generative AI technology that can create text, images and code from human prompts. “We are thrilled to partner with Reddit to enhance ChatGPT with uniquely timely and relevant information, and to explore the possibilities to enrich the Reddit experience with AI-powered features,” said Brad Lightcap, OpenAI’s chief operating officer. Including Reddit in ChatGPT “upholds our belief in a connected internet, helps people find more or what they’re looking for, and helps new audiences find community on Reddit”, said Steve Huffman, Reddit’s co-founder and chief executive. While some media brands have partnered with OpenAI, others have resisted. The New York Times and other publishers have instead sued OpenAI and Microsoft for harvesting their articles. In December, the NYT filed a lawsuit seeking billions of dollars in damages from the two companies for “profit[ing] from the massive copyright infringement, commercial exploitation and misappropriation of The Times’s intellectual property”.

7

2 comentários

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

2

5 comentários

📊 Navigating Brazil's Dynamic Banking Landscape 📊 C-Innovation dives into the trends shaping Brazil's digital banking sector. Download here the Report: https://lnkd.in/e_mQYrAS 📈 Unprecedented Growth: 🔹Brazil's digital banking sector continues to surge, adding 59 million users between Q1 2023 and Q1 2024. 🔹Brazil's top digital-only banks have seen a user base surge, surpassing 370 million users, indicating widespread adoption of multiple solutions per user among the 213 million population 🔹The leading brands by number of users—Nu, PicPay, and Mercado Pago—together hold 200 million users, accounting for over 50% of digital bank users in Brazil. 🏦 Competitive Dynamics: Nu: Added 16.8M users, leading with a 25% market share. PicPay: Gained 6.0M users, holding 15% of the market. Mercado Pago: Expanded by 7.5M users, capturing 14% market share. Inter: Attracted 6.2M new users. iti Itaú: Boosted its user base by 13M and now holds 8% of the market PagBank: Its market share decreased from 10% to 8% year-over-year, adding only 400k new users. 🏆 Strategic Insights: 🔹Intense Competition: Digital banks are fiercely competing for market share, emphasizing the need for continual innovation and user-centric services. 🔹Ecosystem Transformation: Digital banks like PicPay are evolving from simple wallets to comprehensive financial ecosystems, offering diverse services from payments to investments and loans. 🔹Leveraging Multi-Account Behavior: Many users maintain multiple accounts for varied benefits. This trend underscores the strategic need to leverage this multi account behavior by tailoring services and marketing strategies to meet diverse customer needs and maintain and grow market share. 🔹Market Consolidation: Traditional banks are enhancing their digital offerings to compete with digital-only banks, and mergers and acquisitions, such as Banco Master’s acquisition of will bank, highlight strategic moves to expand reach and services. 💼 For a detailed analysis, download the full C-Innovation Report: Explore the comprehensive insights and strategic analysis. 📥 https://lnkd.in/e_mQYrAS on our website. #DigitalBanking #FinTech #Brazil #Nubank #PicPay #MarketShare #Innovation #Strategy #CustomerExperience #FinancialInclusion #CInnovation #deepdivecollection #digitalfinance #banque #banking #financialservices #Revolut

31

1 comentário

Why is Brazil leading developing countries in digital transformation? “The introduction of Pix, an instant-payment app launched by Brazil’s central bank in 2023, was a force that “lit up” Brazil” “In many ways, Pix is the enabler for this impressive digital adoption in Brazil,” he said. “The gig economy, content creators, gaming, streaming services like Netflix or marketplaces like Mercado Libre, all of them need efficient payment infrastructure. So Pix is the backbone of this digital adoption in Brazil today.” Pix, also allowed more businesses and consumers to engage across digital marketplaces and to open up the field to FinTechs and other digital-only innovators. “None of this happened by chance,” The central bank in Brazil (and, similarly, in India) has made participation in instant payments mandatory for banks and other financial services firms so that gig economy workers, content creators and marketplaces have access to efficient payments infrastructure. Payments speed, has been a key way to counter the impacts of hyperinflation, because money received today is worth more than might be seen tomorrow. #BXinnovation #paymentsinnovation #PIX Brian Miller Greg Boullin

2

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

14

2 comentários

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

1

At #FIIPRIORITY in #Rio, André Esteves, Chairman & Senior Partner, BTG Pactual underscores how can #Brazil leverage its #CleanEnergy matrix to address critical global challenges like #EnergyCrisis & #FoodSecurity. Watch the full panel: https://lnkd.in/dBks4iaa

18

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.

78

1 comentário

📢 Global SME Finance Forum in Brazil, Sept 16-18 2024. Conference website is live now!     Aligned with our new vision, driving the conference towards being highly technical, solutions and  outcomes oriented. This year's central theme is the transformative impact of AI tools and technologies on scaling SME finance and powering the twin digital-sustainable transitions. Key highlights include:  🔹 Special focus on AI in SME finance as a pivotal technological advancement.  🔹 Innovations at the intersection of AI, sustainability, and digitization.   🔹 Holistic coverage of broader elements in SME finance and potential solutions. VISIT the website for more details: https://lnkd.in/gxip6mPK REGISTER here: https://lnkd.in/g-BbPGgn We are privileged to organize the conference in partnership with the Brazilian G20 Presidency, the Brazilian Ministry of Entrepreneurship, Microenterprise and Small Business (MEMP), with support from Brazil Development Bank (BNDES) and the Inter-American Development Bank (IDB). Stay tuned, more details to follow soon! #SMEFinance #AI #DigitalTransformation #Sustainability #GlobalSMEFinanceForum2024

74

6 comentários

Dear friends, we’re thrilled to announce that we’re (finally) launching our set custom of gen-ai solutions for the Brazilian market at the #riosebsummit. AI is a game changer for everything analytics. It’s all in Portuguese for now (sorry!),hit me up and we can walk you through our approach and why it’s different. A hint: it’s all powered by Observable. Everything is light-weigh, modular, auditable and reproducible. You can check it out at https://ai.belo.re

33

4 comentários