Nu Mexico Transforms into Full Bank: How $4.5B Digital Banking Giant Will Reshape Mexican Finance

On January 24, Nu obtained the approval of the National Banking and Securities Commission (CNBV) for a license with which he will be able to operate as a multiple banking institution in the country: “With this milestone, Nu becomes the first People’s Financial Corporation (Sofipo) to obtain approval to become a bank, opening the way to greater competition in the financial sector,” he said. As a continuation of the process, an audit will be carri…

Since its arrival in the Mexican market, Nu México has become a key player within the digital financial ecosystem. What began as a commissionless credit card, backed by technology and user experience, has evolved towards a more robust proposal, focused on financial inclusion and on serving sectors historically forgotten by traditional banking. Today, the company marks a new milestone in its path: it has received approval to operate as a bank in …

Nu México, a subsidiary of the Brazilian Fintech giant Nubank, has marked a milestone in receiving the approval of its banking license by the National Banking and Securities Commission (CNBV), a strategic step that will allow it to transform from a Popular Financial Society (Sofipo) to a Multiple Banking Institution. This achievement, officially announced on April 24, positions Nu as the first Sofipo in Mexico to initiate this conversion process…

Nu México, the Mexican subsidiary of Nubank, received the approval of its banking license from the National Banking Commission...

After five years operating in the country, Nu México, the Mexican subsidiary of the Brazilian digital bank Nubank, obtained the license to become a bank. The license came after almost two years of waiting. "This approval brings the company closer to the expansion of its product portfolio, including the introduction of a payroll account," the company reported through a statement.You may also be interested: Banco de México cuts Mexico's GDP more t…

The decision allows the company to expand the product portfolio in that country, including the introduction of a payroll account.