NUBank

Nubank, also known as NU Bank, is a digital bank headquartered in Brazil that provides a range of financial products through a mobile‑first platform. Its core offerings include a no‑annual‑fee credit card, a digital checking account, personal loans, investment options, and insurance services. The bank serves individuals primarily in Brazil, Mexico, and Colombia, operating exclusively via its smartphone app without physical branches. Because it relies on technology rather than a traditional branch network, Nubank has become one of the largest digital banks in Latin America, reaching millions of customers across the region. The institution distinguishes itself through a customer‑centric design, rapid feature deployment, and strict adherence to the regulatory frameworks of the Central Bank of Brazil and local authorities in each country it serves. Nubank’s shares are listed on the New York Stock Exchange under the ticker NU, reflecting its status as a publicly traded fintech company.

The company was founded in 2013 by David Vélez, Edward Wible, and Cristina Junqueira, and it remains an independent entity with ownership dispersed among public shareholders and various institutional investors. Nubank has established subsidiaries to support specific lines of business, such as its loyalty program and brokerage services. In March 2023, Nubank was affected by the GoatRAT Android banking trojan, which exploited Brazil’s Pix instant‑payment system to initiate unauthorized transfers from compromised accounts. The malware used accessibility services and overlay screens to conceal its activity, auto‑filled transaction details, and simulated clicks to confirm fraudulent payments while stealing Pix keys but not intercepting SMS or authentication codes. This incident highlighted the evolving threat landscape targeting instant‑payment infrastructures and impacted multiple Brazilian financial institutions alongside Nubank. Despite the security challenge, Nubank continues to operate under the oversight of its regulators and to develop safeguards aimed at protecting its customers’ funds and data.