Nu: Brazil's radical upstart bank

This $0.90-Per-Customer Bank Is Crushing Latin America’s Giants

While American investors obsess over AI stocks and oil prices, a Brazilian fintech is quietly rewriting the rules of banking across an entire continent. Nu Holdings (NU) — known simply as “Nu” to its 127 million customers — has built what might be the most efficient financial institution on the planet. Here’s the number that should make every bank executive lose sleep: it costs Nu roughly $0.90 per month to service a customer. Traditional Brazil…

Nu: Brazil's radical upstart bank

Nu is upending the status quo in Latin America by tackling a banking sector dominated by lazy, high-cost incumbents, says Jamie Ward