Fintech startup Nubank testing and rolling out new digital bank account service NuConta for Brazil’s unbanked - AcceleratingBiz

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Briefing

0	Fintech startup Nubank testing and rolling out new digital bank account service NuConta for Brazil’s unbanked November 1, 2017

Briefing:

NuConta – Brazilian fintech startup Nubank will expand services from credit cards to new digital bank account system, called NuConta, that will serve country’s unbanked
Benefits – Will let account holder pay bills, save, and transfer money without transaction fees as well as earn interest more than traditional bank accounts as money collected will be invested in public debt
Unbanked Population – Estimated at 60 million or 30% of Brazil’s population
Timeline – Will be tested and rolled out among existing NuBank credit card customers before public release in 2018 Q1

Accelerators: Emerging Market Opportunities , Mobile and Wearable Devices

Market Disruptions: Banking the Unbanked , Unbundling Banking

Sectors: Financial Services, Information Technology

Organization: Nubank

Source:

Mari, A., "Brazilian fintech Nubank aims for the country's unbanked",

ZDNet, http://www.zdnet.com/;
"Brazilian fintech Nubank offers accounts for transfers, payments,"

Reuters, http://www.reuters.com/;
AcceleratingBiz analysis

Original Publication Date: October 25, 2017

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