Nubank with a new look: What’s the new brand all about?

Updated: Oct 11

A slightly different shade of purple and a bolder logo make up the new brand identity of Brazil’s largest fintech, Nubank. So, why the change?

Nubank's new brand

The beginning of Nubank

The Brazilian fintech unicorn and the world’s most valuable digital bank, Nubank, was founded in Sao Paulo in 2013, with the mission to turn the local financial system upside down.

“In the midst of a bureaucratic financial system, full of absurd fees and poor service, we believed that we could change the rules of the game and improve the relationship between Brazilians and their money.”

So, from day one, Nubank’s biggest priority has been to create the best product on the market and the ultimate user experience. To do this, the challenger focussed on truly understanding people’s exact needs, and translating those into “products that are easy to use, free of charge, and with an amazing customer service”.

And it seems that the neobank has managed to do just that. According to Nubank’s CEO and founder David Velez, it has gone from 12 million to 34 million customers almost entirely through word of mouth and referrals. In a recent analysis, The Low Down has identified the following 3 major factors for Nubank’s massive success: product, data and customer service.

“Try messaging Nubank when something goes wrong. You’re gonna get a response from a well-educated customer support guy and he will solve your issue in minutes. It just works. So, it’s not bots and technology. It’s customer experience.”

Like other challenger banks, Nubank went through the “card-only” route first. Obtaining a banking licence in Brazil is a quite difficult and lengthy process. So, Velez and his team decided to start up the company with a credit card product. The credit card category seemed like a particularly attractive opportunity as existing products on the market were charging sky-high interest rates at the time, between 200% and 400% a year.