Briefing

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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
Sectors: Financial Services, Information Technology
Organization: Nubank
Source:

Original Publication Date: October 25, 2017

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