#nubank, has recently scaled to $30 billion in valuation and to 40 million customer base, largely in Brazil.
It is clearly among the leading #digitalbanks in the World. There is plenty to learn from their journey and here is short 3-point summary:
(1) Launched in 2014, NuBank disrupted with a strong product proposition - a Zero Fee all digital Credit Card. The key was to perfect customer experience with an all digital model. and removing friction associated in securing a new credit card.
(2) NuBank has #npsscore of >85!! Their Goto market strategy has been simple - it is organic "word of mouth", thus minimizing their customer acquisition cost
(3) In early 2018, they got the #digitalbanking License and that transformed the fortunes. "Digital Bank" gave customers both a more holistic range of products as well as greater trust. Their customer base has since then expanded >10X!
We believe they are still only at start of their journey and over the next couple of years, they have a good chance of becoming the largest bank in Brazil by #marketcap
About AMX Partners: Based out of Singapore, we are a Fintech & FS focused Pan-Asia Boutique Strategy Consulting Firm. We have the vision to create, shape, scale and innovate Fintech, Digital Banks and FS firms, together with our clients