Nubank (NYSE: NU), which claims to be one of the largest digital financial services platforms in the world, announced the hiring of the Dex Labs team. dex Labs is known for developing an AI-enabled data engineering and cloud infrastructure platform that brings together data collection, transformation, orchestration, and monitoring, enabling analytics and data science teams to “make decisions based on reliable information.”
The integration of the Dex Labs team reinforces Nubank’s investment in data and AI capabilities, with the goal of accelerating “disruption in financial services enabled by advances in AI.”
The Dex Labs team, composed of data engineers and led by founders Gustavo Beltrami, Matheus Beltrami, and Luan Guimarães, will join Nubank starting Dec 2 to contribute to the “development of AI-related initiatives.”
On its quest to become a so-called “AI-first” company, Nubank is integrating various foundational models into its operations “to drive an AI-native interface to banking, while creating benefits for customers and the business.”
For clients, AI reportedly improves the overall understanding of their “financial needs, enabling recommendations and insights.”
On the business side, AI strengthens risk management and scalability, while helping design more accurate solutions, “reducing credit and fraud losses and enabling tailored collections strategies.”
During the past few years, the Dex Labs team has reportedly processed hundreds of petabytes of data, contributing to “the transformation of data operations at companies in their segments, ensuring reduced pipeline delivery times.”
In another update, it was noted that Amazon Brazil and Nubank announced a partnership to enhance the online shopping experience for “for over 100 million clients.”
Via the integration of NuPay into the Amazon.com.br store, clients will be able to gain access to “special payment conditions, including an additional credit limit and installment options.”
The initiative unites two of the South American country’s brands to meet a demand of the Brazilian market and a decisive factor in “democratizing Brazilians’ access to online shopping: flexibility in payment methods.”
Amazon and Nubank clients can enable NuPay for a shopping experience with a few steps, “fully digital, frictionless, without a physical card, and without needing to enter data, all with the same level of security and reliability that characterize both brands.”
Clients will have the option to pay with NuPay directly “at checkout without having to leave the Amazon.com.br or Amazon Shopping page.”
Eligible Nubank clients may also have access to an extra limit for purchases, now with “the possibility of installments in up to 24 times with interest.”
The feature is being rolled out gradually and will be offered to all clients over the next several weeks, beginning with “the interest-bearing installment option and the opportunity for an additional limit, and later for interest-free credit and debit functions.”