Nubank Acquires Silicon Valley’s Hyperplane For Digital Banking Evolution

Nubank recently revealed that it has bought Hyperplane, a data intelligence firm, from Silicon Valley. This deal will start a new chapter for digital banking, bringing fairer, smarter, and more personalized financial services and products to Nubank’s users.

Hyperplane was founded in 2022 by Felipe Meneses, Rohan Ramanath, Felipe Lamounier, and Daniel Silva. The company has played a key role in using special models to offer top-notch financial services to many people.

The platform helps financial institutions train, test, and use deep-learning models on their own data to make decisions. It acts as a central hub, letting customers train many custom models for different areas like collections, risk, and marketing.

Nubank Seeks To Revolutionize Digital Banking By Leveraging Advanced AI Capabilities

At Nubank, taking an “AI-first” approach means more than just linking systems or models. With a strong team of AI experts, buying Hyperplane will help the firm connect different areas. It will also enable the company to support decision-making, find useful information, and, most importantly, make life easier for Nubank’s customers.

David Vélez, founder and Chief Executive Officer of Nubank, states that Nubank’s mission from the start has been to simplify its services and empower its dedicated customers. Nubank’s early focus on AI, along with the great infrastructure and talent the Hyperplane team has built, will speed up the firm’s mission.

Vélez added that people around the world will get the best financial products and also receive personalized financial advice that helps them live better lives.

Nubank handles huge amounts of data every day to ensure customers have a safe, efficient, and great banking experience. This is possible because of their early investments in data analytics and infrastructure.

Nubank Wants To Drive Innovation And Deliver Immediate Benefits To Customers

Hyperplane created its AI systems to take in and analyze large amounts of unorganized data, including how customers interact and their transactions. This new AI system will help Hyperplane understand better what customers need and like.

At Nubank, Hyperplane will enhance the main machine learning abilities, developing basic models that the product and engineering teams use to improve the user experience at every stage of their journey.

Felipe Lamounier, co-founder of Hyperplane, stated that there are key investments a financial platform must make to use AI effectively. Lamounier added that Nubank is the ideal place to speed up its vision of highly personalized consumer banking because of its advanced data system and a culture focused on new ideas.

With the current setup and how things connect, Nubank can right away use Hyperplane’s advanced AI abilities, promoting new ideas and providing benefits from the start.