The economics of Nubank in the USA
MIAMI – Nubank announced today the start of its operations in the US, targeting a potential market of 100 to 150 million unbanked or underbanked individuals. According to CEO David Vélez, although the segment that is “natural in a first moment” is that of Latin Americans who already know the bank, the operation in the US will not be niche. […] The post The economics of Nubank in the US appeared first on Brazil Journal .
Nubank has started operations in the US, targeting 100-150 million underbanked individuals. The digital bank, led by CEO David Vélez, aims to offer competitive services to the mass market, not just the Latino-American community familiar with the bank. Nubank has launched a global account allowing free transfers between 35 countries and a paid current account with a 3.5% annual yield, a rare offering in the US.
The bank currently operates with conditional approval from US regulators and plans to expand its product range, including personal loans, once it obtains a full national bank license.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
