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Nubank: The Missionaries of Modern Banking
How the co-founder of a Latin American challenger bank plans to transform the future of finance.
Join us for the latest episode of Invest in Progress, featuring David Vélez, co-founder and CEO of Nubank – the largest challenger outside China. Vélez shares with Lawrence Burns how he's revolutionising banking across Latin America and saving users tens of billions in the process.
Episode Highlights:
Breaking the Banking Monopoly: When five banks controlled Brazil's financial sector, making services expensive and inaccessible, Vélez spotted an opportunity to disrupt the status quo with simplified processes and reduced costs.
Unlikely Disruptor: Despite having no retail banking experience, technology background, or Portuguese language skills, Vélez envisioned a technology-driven banking transformation focused on consumer needs and digital-first solutions.
Economic Impact: Nubank has returned approximately $20 billion to customers – money that would have otherwise gone to traditional banks as fees – demonstrating their commitment to affordability and customer value.
Scale and Reach: Now serving over 114 million customers across Brazil, Colombia, and Mexico, Nubank has grown into the largest challenger bank outside China by delivering a seamless digital banking experience.
Customer Love: With one of the highest Net Promoter Scores worldwide, Nubank's customer-centric approach has built extraordinary brand loyalty rarely seen in financial services.
AI-Powered Future: Vélez discusses how AI integration could evolve banking from merely "having a bank in your pocket" to enjoying a personalised experience akin to having a banker in your pocket too.
Worldwide Ambitions: With a methodical approach to global expansion, Nubank aims to become the world's largest retail bank by addressing inefficiencies in banking models worldwide.
Check the podcast description to ensure this content is suitable for you. Your capital is at risk.
Presenter: Claire Shaw
Executive Producer: Niamh Kidd
Line producer: Jessica Rooney
Broadcast Technician: Samual O’Hare
Editors: Rhona Taylor-Craig, An Phan
Hosted on Acast. See acast.com/privacy for more information.
View all episodes
By Scottish MortgageHow the co-founder of a Latin American challenger bank plans to transform the future of finance.
Join us for the latest episode of Invest in Progress, featuring David Vélez, co-founder and CEO of Nubank – the largest challenger outside China. Vélez shares with Lawrence Burns how he's revolutionising banking across Latin America and saving users tens of billions in the process.
Episode Highlights:
Breaking the Banking Monopoly: When five banks controlled Brazil's financial sector, making services expensive and inaccessible, Vélez spotted an opportunity to disrupt the status quo with simplified processes and reduced costs.
Unlikely Disruptor: Despite having no retail banking experience, technology background, or Portuguese language skills, Vélez envisioned a technology-driven banking transformation focused on consumer needs and digital-first solutions.
Economic Impact: Nubank has returned approximately $20 billion to customers – money that would have otherwise gone to traditional banks as fees – demonstrating their commitment to affordability and customer value.
Scale and Reach: Now serving over 114 million customers across Brazil, Colombia, and Mexico, Nubank has grown into the largest challenger bank outside China by delivering a seamless digital banking experience.
Customer Love: With one of the highest Net Promoter Scores worldwide, Nubank's customer-centric approach has built extraordinary brand loyalty rarely seen in financial services.
AI-Powered Future: Vélez discusses how AI integration could evolve banking from merely "having a bank in your pocket" to enjoying a personalised experience akin to having a banker in your pocket too.
Worldwide Ambitions: With a methodical approach to global expansion, Nubank aims to become the world's largest retail bank by addressing inefficiencies in banking models worldwide.
Check the podcast description to ensure this content is suitable for you. Your capital is at risk.
Presenter: Claire Shaw
Executive Producer: Niamh Kidd
Line producer: Jessica Rooney
Broadcast Technician: Samual O’Hare
Editors: Rhona Taylor-Craig, An Phan
Hosted on Acast. See acast.com/privacy for more information.