Nubank announced on Wednesday the acquisition of Hyperplane, a Silicon Valley data intelligence company, with which it will seek to advance a new era for digital banking platforms, bringing personalized financial products and services to consumers, through artificial intelligence.
Launched in 2022 by Daniel Silva, Felipe Lamounier, Rohan Ramanath and Felipe Meneses, Hyperplane has extensive experience using proprietary foundational models to deliver high-quality financial services to millions of people.
The platform enables financial institutions to train, test and deploy self-driving deep learning models on proprietary data for decision-making. Its platform serves as a hub that allows clients to train hundreds of custom models in various business domains, such as risk, collections, and marketing.
“Nubank’s mission since its founding is to combat complexity and empower fanatical customers. Our early investments in AI, along with the impressive infrastructure and talent the Hyperplane team has managed to assemble, will accelerate our mission. “Consumers globally will not only have access to the best financial products, but will also receive truly personalized financial advice that will empower them to live a better life,” said David Vélez, founder and CEO of Nubank.
Nubank processes petabytes of data daily to ensure customers a secure, efficient and rich banking experience, made possible by the company’s early investments in infrastructure and data analytics. Hyperplane designed its AI systems to analyze large-scale unstructured data, such as customer interactions and transaction details, providing deeper insight into customer needs and preferences.
At Nubank, Hyperplane will drive core machine learning capabilities, building foundational models that product and engineering teams will use to create the best customer experience at every stage of the customer journey..
“There are fundamental investments a financial platform must make to execute on AI. “Nubank is the perfect home to accelerate our vision of hyper-personalized consumer banking due to the maturity of its database and a culture of innovation.”said Felipe Lamounier, co-founder of Hyperplane.
The existing infrastructure and integration path means Nubank can immediately leverage Hyperplane’s advanced AI capabilities, driving innovation and delivering value from day one.
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