I was fortunate to be part of the chat between Mr.David Velez and Mr.Jitendra Gupta on 26th June 2020.
The theme of the Chat was ‘Insight’s
from NUBank Journey’. Mr.David Velez, Founder and CEO, NUBank was the guest and
Mr.Jitendra Gupta, Founder and CEO, Jupiter was the Host.
There were multiple takeaways for the
audience from the chat which lasted about 45 minutes.
The key takeaway for me is: -
A)
Choose
the less travelled path, have patience and success will be besides you. NUBank
started of its journey with a Credit Card product rather than a Debit Card
product. This was a bit risky, as most of NEO Banks started their journey with
a Debit Card.
Other
minor takeaways are:
01)
This saying attributed to Mahatma Gandhi occupies a place of pride in NUBank’s Head
Office -- First, they will ignore you, then they will laugh at you, then they
will fight you and then you win”
02)
Company culture is an important pillar for the company’s growth. The founders
should not deviate from the company’s culture.
03) Customers prefer free services over
paid services.
Brief
about NUBank:
01) 2013 – Founding Year
02) 2014
– Launch of International Mastercard Credit Card. NIL Fees and can be
completely managed through a Mobile App
03) 2017
– Launch of its loyalty program -- NUBank Rewards. The reward points never
expire. 30 days freelook period followed by fees.
04) 2017
- Launch of NuConta – Digital Account
05) 2018 – Launch of Debit Card
06) 2019
– Launch of Personal Loans
Brief
about Jupiter:
01) Built with LOVE in India
02) On
the way for a Beta Launch in India
If
you too were part of the Chat, what is your takeaway?
Disclaimer:
The takeaways are my personal opinion only.
