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This is Nubank, which has already announced an investment of 500,000 million pesos in the next 8 years in Colombia and intends to gain ground in penetration of credit cards and give more access to citizens who have not used this type of money.
This bank will be very particular in Colombia because it will not have physical offices, everything will be done online. This company is bigger than Rappi and is led by businessman David Vélez, a country that is visiting Colombia these days to launch Nubank.
The operations of this business will be led by the executive Catalina Bretón, former manager of Wingo in Colombia, who highlights the revolution that this new bank will make in the market.
“In Colombia, between 70% and 85% of transactions are in cash. Both the penetration of credit cards and the number of Colombians who have formal savings is still very low. But more than half of the population has a smartphone and around 72% of households have Internet access ”, explained Breton, in Forbes magazine.
According to her, any Colombian who has Internet access will be able to access a credit card and will not need any contact or have to pay a handling fee.
According to Forbes, the credit card will be physical, purple and virtual. It also has the backing of Mastercard.
What is Nubank?
This is Nubank, the 100% digital Brazilian bank that, among other things, is owned by the Colombian entrepreneur David Vélez.
According to the newspaper Portafolio, this bank would provide services to Colombians related to payment platforms with QR code and portfolio purchases.
“In addition, the granting of loans with own resources and ‘leasing’ or ‘factoring’ contracts, which are not exclusive to financial entities,” describes this economic medium.
This digital bank is also considered one of the most successful fintech companies in Latin America today. Its business model focuses on the digital ecosystem, outside of the traditional and with more than 4 million customers.
In 2018, for example, the bank of this 37-year-old Colombian entrepreneur managed to position itself as the largest in the world outside of Asia. According to BBC Mundo, Vélez’s business broke the schemes because he created low-cost credit cards without the need for physical offices.
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