Nubank Acquires Hyperplane to Accelerate AI-First Strategy
26 Giugno 2024 - 4:20PM
Business Wire
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.
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