 | October 3, 2020 |
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| Nubank appears primed to launch in Colombia, its second international expansion after Mexico. |
Brazil-based neobank giant Nubank reportedly plans to launch in Colombia, which would mark its third market following Brazil and Mexico.
The neobank's strategy of targeting underserved yet tech-savvy populations has supported its rapid growth.
Thus, Colombia can offer a favorable environment for Nubank to continue building its customer base. Only 45% of Colombians aged 15 years or older have a bank account, but internet penetration at the end of 2017 stood at over 63%, setting up a sizable opportunity for digital banks.
Business Insider Intelligence's Rachel Green has the full story. |
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