Some people may not know, but Nubank originated from a terrible experience our CEO David had when he tried to open a bank account. The bureaucratic, time-consuming, and complicated process made him realize the market lacked a solution that could really make Brazilians’ lives easier.
That is why Nubank’s goal has never been to “only” offer financial services through technology, design, and data science – but to do all that while offering customers a fantastic experience.
The primary question is: how can you do that? Many companies today claim they work based on the so-called “customer focus.” But how does this focus work in practice?
What does “customer focus” mean?
Being customer-focused means that all the areas of the company work thinking about what is best… for the customer! It seems obvious, but it is not.
Many companies make their decisions based on costs, which ends up harming the customer. Of course, Nubank also thinks about costs – but any change we make, no matter how efficient, only makes sense if it is better for the customer.
That means that when we mention “customer focus” at Nubank, we mean something that starts in product development and goes all the way to customer service.
Our app was conceived so that people can solve everything they need by themselves but have easy access to support if they need assistance.
And the mission is not to offer any assistance, but the best customer service in the world.
How to ensure excellent customer service
Nubank is often listed among the companies that offer the best customer service. And this is thanks to our Xpeers, our service team, but also the entire company.
After all, the Xpeers’ work runs smoothly because those who designed the products were also thinking of the customer. Our products are transparent and straightforward – just like our service.
Customer focus works well at Nubank because of three pillars: Culture, People (and Organizational Structure), and “the WOW factor.” Let’s begin by talking about culture, something we truly cherish here.
What does company culture have to do with customers?
The culture of a company is like a glue that binds all different teams. It is what makes sure everyone is aligned and know how to act to achieve a single common goal.
At the very beginning of Nubank, in our first office at a tiny house at Rua Califórnia, in São Paulo, our founders sat down to draft our values.
That conversation resulted in our primary purpose: To fight complexity to empower people.
The statement makes it clear to everyone: customer empowerment has always been and will always be at the center of every decision we make at Nubank.
Other values stemmed from that conversation: five statements that all areas of the company live by.
- We want customers to love us fanatically;
- We are hungry and challenge the status quo;
- We think and act like owners;
- We build strong, diverse teams
- We pursue smart efficiency.
The first statement (We want customers to love us fanatically.) is not a simple wish – it is a mission.
Back then, Nubank’s goal was already to deliver something so amazing and superior that made people more than just like our product: it made them love Nubank and be fanatical about the revolution we set out to make in the Brazilian market.
The way we live our culture in practice
I believe the key here is decision making. Inside Nubank, the first thing that comes to mind when designing a new product, a new usability feature for the app, or even changing simple processes, is: how will our customers feel about this change/update?
One of Nubank’s competitive edges is that everyone who works here can question decisions they believe are not good for the customer. That does happen – and often – because we have a culture that encourages and motivates people to act that way (We think and act like owners.).
We can draw a parallel here: if a company’s goal is to cut costs, all teams will focus on that. They will push their colleagues to avoid wastefulness and suggest changes to their leaders to help everyone achieve such a “goal.”
What happens, then, if the goal, the mission of a company is making its customers’ lives better?
The answer is what we see at Nubank: different teams, in different projects, who always have customer focus as their common goal.