A banner for Nubank, the Brazilian FinTech startup, hangs on the facade at the New York Stock Exchange (NYSE) to celebrate the company's IPO in New York, U.S., December 9, 2021.
REUTERS/Brendan McDermid/File photo Acquire Licensing RightsMEXICO CITY, Sept 5 (Reuters) - Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy.
The new product will allow customers to obtain personal loans in less than five minutes through its platform, the digital bank's Mexican arm, known as Nu Mexico, said in a statement.
"Around 20% of the adult population connected by smartphones in Mexico has already applied to a Nu product.
Executives from the fintech firm told Reuters last month Mexico is the market showing more potential for growth, and the company is ready to roll out products at a faster pace next year.
Persons:
Brendan McDermid, Ivan Canales, Brazil's Nubank, Valentine Hilaire, Sandra Maler
Organizations:
New York Stock Exchange, REUTERS, Reuters, Thomson
Locations:
New York, U.S, MEXICO, Mexico