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  • Why mobile banking in Brazil is a bright idea
  • Why mobile banking in Brazil is a bright idea
    Leonardo Veras, Creative Commons (2015) ©
CASE STUDY

Nubank: app-based credit for Brazil’s big spenders

In Brazil, applying for a credit card is a whole lot of hassle. But mobile-first service Nubank is harnessing the 90 million-strong smartphone circulation to replace all that poor service and paperwork with a streamlined, app-based offering. Is this the future of Brazilian banking?

Location Brazil

Scope
Getting a credit card in Brazil can be a real pain. Most customers start off physically visiting a branch, then grit their teeth for the lengthy process that applying for – and managing a credit card thereafter – entails. Typically, customers must produce a wealth of documentation proving their identity, address and income, and often have to present these physically at a branch where they endure lengthy queues and poor customer service.

Nubank is a new credit card provider that uses smartphone technology to circumvent consumer frustrations – ideal, given that there are 90 million smartphones circulating in Brazil. ...

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