Nubank Aims to Give Millions of Unbanked Their First Accounts

Krishna Junkie Rambo, co-founder of New Bank, shares her journey through male-dominated environments and the challenges of establishing a digital bank in Brazil. New Bank aimed to provide accessible financial services to the unbanked population. Despite initial struggles, the company grew significantly, impacting millions. However, it faced criticism for lack of diversity, prompting initiatives to improve inclusion. As New Bank scaled, it encountered new complexities, requiring technological and process innovations.

What was one of the main challenges faced by Cristina Junqueira in her career?

• Lack of financial resources

• Language differences

• Male-dominated environments

• Technological barriers

What was a key feature of New Bank's mobile app when it was launched?

• Physical bank branches

• High transaction fees

• Limited customer support

• No fees for services

How did New Bank initially realize they had a successful product?

• High stock market valuation

• Positive customer feedback on social media

• Government recognition

• International expansion

What was one of the criticisms faced by New Bank in 2020?

• Lack of technological innovation

• High operational costs

• Insufficient customer service

• Lack of black leadership

What percentage of Brazil's population is black and brown?

• 60-62%

• 54-56%

• 40-42%

• 30-32%

What is one of the strategies New Bank is using to improve diversity?

• Targeted recruitment and educational programs

• Increasing transaction fees

• Focusing on international markets

• Reducing employee benefits

What is a major challenge New Bank faces as it scales?

• Lack of external partnerships

• Evolving processes and technology

• Linear complexity in operations

• Decreasing customer base