September 30, 2020 | technology | No Comments
- Brazil-based neobank giant Nubank appears primed to launch in Colombia.
- Nubank’s experience in catering to underbanked yet tech-savvy populations will set it up for success in the market.
- Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry with the Banking Briefing. You can learn more about subscribing here.
While no official plans have been publicized, Peruvian newspaper La República unearthed commercial registrations that point toward the Brazilian neobank’s forthcoming entrance in the market, per BN Americas. A Colombian expansion would mark Nubank’s third market, following Brazil and Mexico. It also boasts a development hub in Argentina, though a full rollout was postponed amid the country’s economic downturn.
Nubank launched in 2013 with an early mover advantage as Brazil’s first neobank, and it has since replicated that success in Mexico. Nubank is the world’s largest neobank