Adding a remittances feature for US users so they can send funds to people in Mexico. Laying the groundwork for a dedicated operation in Mexico, and to launch in Brazil. A return to Canada in 2022, following a recent exit due to limited resources.
A remittance feature will help Nubank build its brand awareness both within existing markets—the neobank also does business in Mexico and Colombia—and with transfer recipients who live outside of its current service area. The latter group could one day become Nubank customers if the neobank ever opts to expand into their home countries.