Nubank has announced the acquisition of Hyperplane, a data intelligence company from Silicon Valley.
Hyperplane, launched in 2022 and 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.
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The partnership will bring smarter, fairer and more personalised financial products and services to Nubank’s customers
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.
David Vélez, founder and CEO of Nubank, said: “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 customised financial advice that empowers them to live a better life.”
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 analyse 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.
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By GlobalDataFelipe Lamounier, Hyperplane’s co-founder, commented: “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-personalised consumer banking because of the maturity of their data stack and a culture of innovation.”
