“We are not a bank: we are a technology company in which the customer is at the center of the strategy. We develop our own technology, challenge the complexity of the industry, and make data-driven decisions”.
The quote above is part of a talk from our CEO, David Vélez, did in 2019. It summarizes how we work and prioritize things at Nubank – and it embodies many of the 5 core values around which our culture was built.
- We are hungry and challenge the status quo;
- we build strong and diverse teams;
- we think and act like owners;
- we are smart-efficient and, above all,
- we want our customers to love us fanatically.
Below, we detail a bit more what these values mean and how they have helped us along the way.
1. We are hungry and we challenge the status quo
- We are nonconformists: we do not accept things as they are given.
- We pursue bold visions only limited by our imagination.
- We do not rest on our laurels.
Since 2013, Nubank has been fighting complexity to empower people and give them control of their finances. We do that by developing easy-to-use, digital banking solutions and pairing them with outstanding customer service.
We started as a small fintech and grew to become the largest digital independent bank in the world, with 26 million customers in Brazil, operations in México and technology hubs in Argentina and Germany.
To date, the Nubank group has raised US$ 820 million in seven rounds of investment.
The Nubank group is the leader in financial technology in Latin America and the largest independent digital bank in the world.
2. We build strong and diverse teams
- We hire and retain the best talents.
- We treat all Nubankers as contributing creators, horizontally, regardless of their function, team or seniority.
- We seek to receive and give decided and constructive feedback.
- We trust and hold each other accountable.
- We discuss constructively and commit ourselves to making decisions.
At Nubank, we hire people who have their heads full of questions rather than answers: 90% of our employees do not come from traditional banks.
We also value teamwork over rockstars – and we firmly believe in creating a welcoming environment in which people are free to be who they really are and have an active voice.
As of 2020, out of 2800 Nubankers across four different countries, 43% of them identify as women and 30% of our employees self declare as part of the LGBT+ community.
3. We think and act like owners, not renters
- We are protagonists and act on what concerns us.
- We do the best for the company, not for specific individuals or teams.
- We work on our own personal growth.
- We operate in a high trust environment.
We encourage people to act on what they see; to ask questions; to raise their concerns. We share information and trust our teams will know how to handle them. We do not have an innovation department because it’s every team’s job to be innovative – and this is only possible because we give everyone a great deal of autonomy and encourage people to take risks.
At the beginning of 2019, Nubank was chosen by Fast Company as the Most Innovative Company in Latin America and one of the 50 most innovative companies in the world.
We are always looking for people who are willing to take risks, to endure the misfortune of failures and to learn from errors.
4. We pursue smart efficiency
- We look for simple and scalable solutions to grow efficiently.
- We are innovative in any dimension that can bring efficiency: technological, organizational, financial, and communication.
- We are aware of how we use all our resources: time, people, customer service, cash, reputation, etc.
At Nubank, we develop all our technology in-house – and that is one of our competitive advantages. Our teams work in squads, multidisciplinary groups with a common goal and lots of autonomy to solve their problems – whether they are creating a new product, launching a new campaign or starting operations in a new country.
One of the best ways to keep our teams aligned and efficient is by having our customer-service working side-by-side with our product teams. Our Xpeers, as we call customer service, have valuable and timely information regarding our customers – and thus help speed up the process of product development to assure we are being efficient and addressing the most urgent needs.
5. We want our customers to love us fanatically
- We work by reviewing our processes from the real needs of the client.
- We want to offer the best sustainable option within each category in which we choose to compete.
- We empower clients to make their own decisions and respect their choices.
Our app was built to offer simple, intuitive access to our products- however, if someone does need to get in touch, we have 24/7 customer support by phone, e-mail, chat and social networks.
Our communication is transparente and simple. We never use footnotes to hide information in contracts. Even canceling a product is made easy.
In 2019, the NPS (Net Promoter Score) was 87%, which means that percentage of our customers are very satisfied and would recommend us to their friends.
We have offices in Brazil, México, Argentina and Germany – and we are always looking for talented people who want to help us empower more customers.