Financial News

Nubank Acquires Hyperplane to Accelerate AI-First Strategy

AI technology will power Nubank's platform, providing deeper insights into customer needs and creating hyper-personalized digital financial services; Hyperplane's systems will integrate seamlessly, with immediate benefits

Nubank announced today the acquisition of Hyperplane, a data intelligence company from Silicon Valley. The partnership will usher in a new era for digital banking platforms, bringing smarter, fairer, and more personalized financial products and services to Nubank's customers.

Hyperplane, launched in 2022 and co-founded by Daniel Silva, Felipe Lamounier, Rohan Ramanath, and Felipe Meneses, has been instrumental in using proprietary foundation models to provide high-quality financial services to millions of individuals. The platform enables financial institutions to train, evaluate, and deploy self-supervised, deep-learning models on first-party data for decision-making. Their platform serves as a central hub, allowing customers to train hundreds of bespoke models across various business domains such as risk, collections, and marketing.

At Nubank, adopting an "AI-first" stance means going beyond connecting models or systems. With a strong current AI expertise team, the acquisition of Hyperplane will enable the company to create connections between broad contexts, generate valuable insights, support decision-making, and, most importantly, make Nubank’s customers' lives easier.

"Nubank´s mission since its founding is to fight complexity and empower fanatical customers. Our early investments in AI, coupled with the impressive infrastructure and talent that Hyperplane team has been able to put together, will accelerate our mission. Consumers globally will access not only the very best financial products but also receive truly customized financial advice that empowers them to live a better life", said David Vélez, founder and CEO of Nubank.

Building the Future Today

Nubank processes petabytes of data daily to ensure customers a safe, efficient, and rich banking experience, made possible by early investments in data infrastructure and analytics. Hyperplane designed its AI systems to ingest and analyze unstructured data at scale, such as customer interactions and transaction details, providing deeper insights into customer needs and preferences.

At Nubank, Hyperplane will power the core machine learning capabilities, building foundational models that the product and engineering teams consume to create the best customer experience at every step of their journey.

"There are fundamental investments a financial platform has to make to execute on AI. Nubank is the perfect home to accelerate our vision of hyper-personalized consumer banking because of the maturity of their data stack and a culture of innovation" said Felipe Lamounier, Hyperplane’s co-founder.

The existing infrastructure and integration path means Nubank can immediately harness Hyperplaneʼs advanced AI capabilities, driving innovation and delivering value from day one.

Advancing our AI Journey with Hyperplane

Building AI-first products and companies is a multi-year journey, progressing through several stages. Hyperplane stack will empower Nubank to immediately leverage foundational models across multiple areas and adopt the next generations of intelligence. “Hyperplane’s AI technology will seamlessly integrate into our systems, enhancing our ability to analyze vast datasets and personalize our services on a granular level. This is a significant milestone in our journey towards a smarter, AI-first banking ecosystem” concludes Vitor Olivier, Nubank’s CTO.

About Nubank

Nu is the worldʼs largest digital banking platform outside of Asia, serving over 100 million customers across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customersʼ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns. Nuʼs impact has been recognized in multiple awards, including Time 100 Companies, Fast Companyʼs Most Innovative Companies, and Forbes Worldʼs Best Banks.

About Hyperplane

Hyperplane is the leading data intelligence platform that helps banks unlock the potential behind their first-party data. With Hyperplane, financial institutions can create hyper-personalized customer experiences fitted to each customer's unique financial needs and goals. The company was established in 2022 by Felipe Lamounier, Daniel Silva, Rohan Ramanath, and Felipe Meneses and counts on a team of AI experts who led teams at Google AI, Meta, Apple, and LinkedIn. Based in Silicon Valley, Hyperplane started its operations in Brazil, working with some of the country's leading financial institutions. The startup has raised US$ 6M in investments from Lachy Groom, SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Crestone VC, Soma Capital, Latitud, and Atman Capital. Learn more at hyperplane.ai.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback