Nasdaq Expands FinTech Footprint in LatAm with Nubank Partnership

Nasdaq has announced a significant expansion of its digital banking technology presence in Latin America through a new partnership with Nubank, one of the region’s leading digital banks. The agreement, revealed today, will see Nasdaq providing its AxiomSL regulatory reporting solution to support Nubank’s operations in Colombia, marking the latest development in a growing collaboration between the two companies.

Nubank, which boasts over 100 million customers across Brazil, Mexico, and Colombia, already utilizes Nasdaq’s technology for its treasury functions, including fixed income and money market operations. The new partnership extends this relationship to include regulatory reporting, reflecting the increasing demand for sophisticated financial technology solutions as digital banking continues to surge in popularity across Latin America.

Driving Growth in Latin America’s Digital Banking Sector

Nasdaq’s expansion in Latin America comes at a time of rapid growth and transformation within the region’s financial sector. The burgeoning demand for digital banking services, fueled by a young and tech-savvy population, has prompted traditional and digital banks alike to seek out advanced technology to remain competitive and compliant with evolving regulatory standards.

“Digital banking services in Latin America are experiencing extraordinary development, with online marketplaces, open banking, and innovative technology empowering a new generation of consumers,” said Ed Probst, Senior Vice President of Regulatory Technology at Nasdaq. “Nasdaq’s technology is helping to underpin the maturation of the industry, providing a competitive advantage in such a fast-paced environment. We are excited to expand our partnership with Nubank and support their ambitious growth trajectory.”

Navigating Complex Regulatory Landscapes

The partnership highlights the growing complexity of regulatory frameworks in Latin America, which vary significantly across different countries. For instance, Brazil’s regulatory requirements focus heavily on the types of products and services offered, while Mexico requires specific licenses for fintech companies. In Colombia, digital banks operate under different rules than traditional banks, making compliance a challenging task for financial institutions operating across multiple jurisdictions.

Nasdaq’s AxiomSL solution is designed to help banks like Nubank navigate these challenges by offering robust regulatory reporting capabilities that can adapt to the diverse and evolving requirements across Latin America. The technology supports regulatory compliance in over 55 countries and with 110 regulators, making it a valuable asset for banks looking to expand their operations responsibly.

Expanding Partnerships Across the Region

In addition to its collaboration with Nubank, Nasdaq has also expanded its services with other major players in the region, including Mercado Libre, Latin America’s leading e-commerce and digital payments company, Brazil’s C6 Bank, and Mexico’s Bankaool, the first bank to receive a digital-only license from the Mexican government. These partnerships underscore Nasdaq’s commitment to supporting the growth of digital finance in Latin America.

Nasdaq’s broader presence in the region now includes over 50 banking and payment service clients, ranging from digital upstarts to established global banks. The company’s offerings, including the AxiomSL and Calypso platforms, play a crucial role in helping these institutions manage their treasury, risk, and collateral management workflows while ensuring compliance with complex regulatory demands.

A Future of Continued Growth

As Latin America’s financial landscape continues to evolve, Nasdaq is well-positioned to be a key partner for banks and financial institutions navigating this dynamic environment. With its advanced technology and deep industry expertise, Nasdaq is helping to shape the future of digital banking in the region, providing the tools necessary for financial institutions to innovate and grow responsibly.

This latest partnership with Nubank not only reinforces Nasdaq’s strategic presence in Latin America but also highlights the region’s potential as a global hub for digital finance innovation.