Nu Mexico surpasses 7 million customers, driven by rapid expansion and innovation

Digital Reinvention
13/05/2024 News

Nu Mexico, a company renowned for its transparent and user-friendly digital finance services, has reached a significant milestone by surpassing 7 million customers. This rapid growth includes the addition of 2 million new customers within the last three months, fueled by continuous innovation and the launch of services designed to meet diverse customer needs.

The company attributes this remarkable growth to its commitment to understanding and addressing the needs of its users. Iván Canales, General Director of Nu Mexico, highlighted the company’s focus on creating a transparent and accessible financial experience. "Since we arrived in Mexico, we have committed ourselves to understanding and meeting the needs of our users. There is a clear demand in the country for better financial products and services, and our focus on creating a transparent and accessible experience has been well received by customers, as reflected in this growth," Canales said.

A significant driver of this expansion has been the Cuenta Nu product, which has attracted a broad range of customers—from those traditionally outside the banking system to high-income individuals. By the end of the fourth quarter of 2024, Nu Mexico had secured 1 billion dollars in customer deposits, reflecting widespread trust in the platform.

Adding to this momentum, Nu Holdings recently invested $100 million into the local operation, demonstrating strong confidence in Nu Mexico’s strategy and the potential of the Mexican market. Canales emphasized that this investment would accelerate their expansion and sustain their innovation pace. "This investment is a clear sign of confidence in our strategy and the potential of the Mexican market, where we continue to open doors. It will help us accelerate our expansion and maintain our pace of innovation. Each new customer is a vote of confidence in our platform and our vision," he added.

Looking ahead, Nu Mexico is dedicated to expanding access to financial services across the country. The company is at the forefront of transforming the financial sector to be more inclusive and approachable for all users. Canales concluded on an optimistic note, reaffirming Nu Mexico's mission to simplify the financial lives of its customers and enhance money management.

Related news & insights

Digital Reinvention
13/06/2024 Article

Financial Innovation Spotlight: June 2024 edition

We've handpicked five new and intriguing projects that caught our attention.

ESG
12/06/2024 Video

Setle + KBC: Empowering sustainable home renovations

Thibaut Nivelles, Founder of Setle, and Peter van Hees, Innovation Manager of the Ecosystems team at KBC, discuss their successful...

Digital Reinvention
11/06/2024 Article

Banking Innovation of the Month: Intesa Sanpaolo’s smart knowledge base through GenAI digital advisor

This month’s Qorus-Infosys Banking Innovation Award goes to Intesa Sanpaolo for their Smart Knowledge Base powered by generative AI. This...

Digital Reinvention
11/06/2024 News

Revolut introduces Wealth Protection for summer travel season

Revolut, a leading global fintech, is launching Wealth Protection, a new feature aimed at safeguarding customer savings from pickpockets and...

Digital Reinvention
10/06/2024 Article

Qorus Innovation Radars: Showcasing the best of the innovation awards

These in-depth pieces showcase the winning innovations from our competitions, featuring both written content and videos.

Mobility
08/06/2024 News

OCBC eco-care car loans surge sixfold in 2023

OCBC’s Eco-Care Car Loans have surged over sixfold in 2023 compared to their launch in 2021, driven by increased environmental...

05/06/2024 News

Major banks launch multi-bank ATM deposit service in UK

These new deposit machines, initially being trialed, offer services such as withdrawals, balance inquiries, and PIN management. They also provide...

Digital Reinvention
05/06/2024 News

Marqeta expands partnership with Lydia to power new European digital bank Sumeria

Marqeta, a leading modern card issuing platform, is expanding its partnership with Lydia Solutions to support the launch of Sumeria,...