Nubank Begins Testing with Generative AI to Enhance CX with Credit

Nubank (NYSE:NU) is starting to test this week a new solution that applies generative artificial intelligence as a virtual assistant to further enhance customer service.

In this initial stage, the AI solution will “focus on presenting personalized possibilities related to credit granting within the Nubank ecosystem and portfolio.”

This includes understanding the “use of the credit limit on the card, exploring possibilities of collateralized credit, using NuPay without consuming the credit limit, and even personal loans, depending on the customer profile and eligibility.”

In the first few months, the solution will “be available only to members of NuCommunity, the company’s virtual community dedicated to dialogue with customers.”

The first version was developed “using ChatGPT4, as well as other data models and proprietary structure and insights tools from Nubank, and will undergo a learning evolution as customers use it.”

The strategy is part of Nubank’s goal “to establish a new service paradigm for its customers: simplify and optimize resources through Artificial Intelligence and a cutting-edge technological ecosystem, focused on offering an even better experience through automation and personalization.”

In other recent updates from the firm, it was revealed that during the month of cybersecurity, Nubank emphasizes “its prevention, protection, and fraud and scam mitigation tools.”

The institution combines mechanisms based “on advanced technology with educational content targeted at customers to reduce the risks of malicious actions.”

Fabíola Marchiori, VP of Engineering at Nubank, said:

“Our goal is always to stay ahead of criminals, preventing their activities against our customers.  We have a multidisciplinary team that constantly develops and tests our protections, as well as works to anticipate new forms of fraud and scams that are emerging,” she adds.

From a technological standpoint, Nubank offers what it calls Intelligent Defenses, “a protection system built with artificial intelligence that recognizes, alerts, and can even prevent transactions that deviate from the customer’s purchasing pattern.”

This system is also capable of “identifying the opening of fraudulent accounts, invasion attempts, among other malicious acts.”

When a customer attempts to make a transaction in the app that has been identified by the defense system as potentially fraudulent, they are “alerted by Nubank and can choose not to proceed.”

In some cases, the transaction may “be automatically blocked or allowed only through scheduling for the following day, giving the customer 24 hours for review and cancellation, if desired.”

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