AI Could Extend Nubank’s Low-Cost Banking Model Into New Markets
David Vélez, Nubank’s founder and chief executive, argues that the digital bank’s low-cost model can challenge incumbents in an industry he says remains largely branch-based. Nubank’s 140 million customers are evidence for that model, but its expansion into the United States and other markets will test whether the advantage travels. Vélez sees AI as a way to lower costs further and improve financial services, while saying that scale alone is not enough: companies need the systems and culture to use their data effectively.
Invest Like The Best·Oct 13, 2026·20 min read