Nubankha has begun a new stage of international expansion after obtaining conditional approval to operate as a bank in the United States, consolidating its position as the most valuable digital entity in Latin America. This advance will allow the company to offer complete financial services in the largest economy in the world, betting on digitalization and its self-service model in an environment of strong competition.
The origin of Nubank dates back to 2012, when David Vélez faced significant barriers when trying to open a bank account in São Paulo.The bureaucracy, the long procedures and the rigidity of the traditional system motivated Vélez to imagine an alternative solution.Thus the digital bank was born, based on the elimination of physical branches and the completely digital management of financial services.
In fourteen years, Nubank has transformed the financial ecosystem of Brazil and the Latin American region.Currently, it serves more than 127 million customers and stands out for its presence in Brazil, Mexico and Colombia.
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The landing in the United States responds both to the bank’s strategic vision and to specific regulatory opportunities.Vélez, as executive director, maintained that this objective seeks to build “the next generation of banking in the United States,” driven by technology, artificial intelligence and efficient operating models.
Obtaining the national banking license was processed in advance, in order to avoid regulatory delays that have slowed growth in other markets.
The US market presents notable challenges.There are thousands of banks and numerous financial technology companies both local and international. Similar entities, such as N26 and Monzo Bank, invested considerable sums and failed to establish themselves due to regulatory obstacles and competition, marked by state and federal overlap.
Analysts such as Gustavo Schroden and Jorge Kuri point out that Nubank will have to adapt its proposal to maintain profitability in this context.
In parallel, Nubank’s global strategy includes recent investments in Africa and Asia, such as the acquisition of stakes in Tyme Group in South Africa and the Philippines.Vélez has pointed out that future international growth can be supported by acquisitions and strategic alliances, accelerating entry into new markets and expanding its reach beyond Latin America.
The company’s executive management remains under the absolute control of Vélez thanks to a super-voting share structure.The manager has once again assumed key functions to centralize decision-making and simplify the organizational structure, ensuring visible and active leadership.
Nubank’s entry into the United States, along with its commitment to internationalization, reinforces the image of leadership present at each crucial stage of the bank’s growth, underscoring the direct influence of its founder in the transformation of this financial group.
