Nubank (NYSE: NU), which claims to be one of the world’s largest digital banking platforms outside Asia, is helping to streamline the way Brazilians interact with the government’s digital services.
Since the partnership began in May, over 3.2 million Nubank customers “have obtained a silver account on gov.br by accessing the portal via the Nu app, facilitating access to more than 4,200 digital public services, such as the Digital Traffic Card, My Digital SUS, and the INSS proof of life.”
Currently, about 40,000 new Nubank customers “are connected to gov.br daily, making Nu the financial institution participating in the program that generates the most user connections and, consequently, access to the silver account and its benefits.”
This connection not only speeds up “the authentication process but also strengthens the security and reliability of the created accounts.”
The partnership promotes greater efficiency in “accessing digital public services, enhances security in user identification on the portal, bringing agility and ease.”
With the silver account, for example, it is possible “to use the pre-filled Income Tax declaration option in the Federal Revenue e-CAC.”
Neither the gov.br platform has “access to bank data, nor does Nubank receive information from people listed in federal government bodies.”
To connect the accounts, the customer must simply “access the link access.gov.br, choose ‘Other identification options’ and select ‘Your bank.’”
When the screen opens, customers can click and select Nubank.
As covered last month, Nu Asset Management (Nubank’s investment fund manager) announces two new solutions: the Nu Ibov Smart Low Volatility B3 (LVOL11) and the Nu Ibov Smart High Beta B3 (HIGH11).
The two ETFs will start trading on Tuesday (July 16) on B3, the Brazilian Stock Exchange, and follow indexes “developed jointly by the two institutions.”
These two new funds will allow investment “in low-volatility stocks (LVOL11) or in securities that enhance returns during market upswings, albeit with higher historical risk (HIGH11).”
The launches represent another step aligned with Nu Asset’s purpose “of meeting different objectives and needs in investors’ portfolio diversification strategies.”
Andrés Kikuchi, Nu Asset Management Executive Director said:
“When we decided to enter the ETF market, we saw this category of investment products as a way to innovate in the Brazilian market and spread knowledge about this type of fund. LVOL11 and HIGH11 follow our purpose of offering solutions focused on investors, suitable for various profiles and needs, complementing the process we started with the creation of Brazil’s first dividend-paying ETF, NDIV11.”
Nubank’s two new ETFs require “a minimum initial investment of R$100.00, a management fee of 0.5% per year, and two-business-day liquidity (D+2) in the case of redemption. Both are available to institutional and individual investors, subject to profile suitability at the broker with which they are affiliated.”