Nubank announced it was no longer serving its clients with investment advisory, cutting its headcount by 40.
Nubank announced a $150 million loan from the International Finance Corporation as it seeks to strengthen its presence outside of Brazil.
Nubank is developing a risk appetite for unsecured loans, while it expects to roll out payroll lending in the following quarters.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
Nubank executives talk credit strategy in Latam. The fintech has a portfolio of $20 billion comprised of personal and credit card loans.
Nubank's shares ticked 4% higher on market opening following a surge in profits during the fourth quarter of 2022.
Nubank is the top receiver of customer data, outlining fintech's significant opportunities in Open Finance in Brazil.
Across Latin America, fintech lenders are accelerating profitability strategies amid growing pressure from markets to yield profits.
Nubank and Ualá expanded to Colombia to boost customer acquisition. Replicating success in Latin America is no easy feat for digital banks.
Progress in open banking regulation will advance financial inclusion in Latin America, and prompt fintechs to forge alliances.