Nubank (NYSE: NU), one of the world’s largest digital financial services platforms in terms of scope of operations and revenue, continues to reshape the financial landscape in Latin America with significant milestones in Mexico and strategic leadership appointments.
With over 118 million customers across Brazil, Mexico, and Colombia, Nubank’s innovative approach is driving financial inclusion and digital transformation.
Recent updates, including a study on reduced cash usage in Mexico, the appointment of Roberto Campos Neto as Vice Chairman, and enhancements to the Ultravioleta Global Account, indicate the company’s commitment to empowering customers and expanding its global footprint.
On July 2, 2025, Nu Mexico released the third edition of its “Impacto Nu: From Access to Well-being” study, highlighting the transformative effect of its services on 12 million customers, representing 25% of Mexico’s banked population.
A key finding revealed that 59% of Nu customers now use less cash than before, with many managing their finances entirely through their phones.
This shift is particularly significant for women and low-income individuals, with nearly 4 in 10 customers reporting prior rejections by other financial institutions, primarily for credit cards (89%).
Nu Mexico’s accessible digital platform has become a gateway to the formal financial system, fostering financial inclusion.
The study also noted that 60% of customers save regularly using Nu’s “Cajitas” (Money Boxes), with half adding funds monthly.
Beyond financial metrics, 86% of customers reported a “high” positive impact, citing improved emotional well-being, family relationships, and a greater sense of security (72%).
Romina Benvenuti, Director of Public, Regulatory, and Legal Affairs at Nu Mexico, emphasized,
“We are witnessing a true evolution: people are moving from using less cash to managing their money entirely from their phones.”
This is accelerating Mexico’s transition to a modern, inclusive financial future.
On July 1, 2025, Nubank announced the official appointment of Roberto Campos Neto, former President of the Brazilian Central Bank (2019–2024), as Vice Chairman and Global Head of Public Policy, effective after a six-month cooling-off period mandated by Brazilian law.
Campos Neto, who also joins Nu Holdings’ Board of Directors as a non-independent member, brings experience from his tenure overseeing transformative initiatives like Pix, Brazil’s instant payment system, Open Finance, and Drex, a blockchain-based digital real.
Reporting directly to CEO David Vélez, Campos Neto will spearhead Nubank’s international expansion, engage with global regulators, and enhance economic and risk analysis for operations in Latin America.
Vélez acknowledged Neto’s expertise, stating:
“His extensive technical experience in the financial and regulatory sectors will provide valuable strategic leadership for our continued growth.”
Campos Neto expressed enthusiasm for the role, aiming to develop innovative financial products and advocate for policies that enhance access and transparency.
This appointment positions Nubank to navigate complex regulatory landscapes as it eyes expansion into markets like Chile and Peru.
Nubank further demonstrated its customer-centric approach by eliminating the currency spread for its Ultravioleta Global Account and reimbursing customers affected by a temporary increase in Brazil’s IOF (Tax on Financial Operations).
Announced recently, this move ensures that Ultravioleta customers, Nubank’s premium offering, can conduct international transactions without additional currency conversion fees, aligning with the company’s mission to simplify financial services.
The reimbursement addresses a temporary IOF hike, reinforcing Nubank’s commitment to transparency and customer trust.
This enhancement complements Nubank’s broader strategy of diversifying its portfolio, which includes travel perks like NuViagens and partnerships with platforms like Wise for global accounts supporting over 40 currencies.
Nubank’s recent achievements reflect its mission to combat financial complexity and empower customers.
With 12 million customers in Mexico, a strengthened leadership team, and customer-focused innovations like the Ultravioleta Global Account, Nubank is poised to redefine digital banking in Latin America and beyond.
As it continues to leverage technology and strategic expertise, the company remains a key player enabling financial inclusion and digital transformation.