Brazil’s Nubank bolsters digital banking in Latin America 

Brazil-based Nubank announced that it is using the Splunk Cloud Platform to help support nearly 60 million digital banking customers in Latin America. 

As one of the largest digital financial services platforms in the world, operating in Brazil, Mexico and Colombia, Nubank is working in partnership with Splunk to securely enable and optimise its business so it can deliver better customer experience and empower millions to take control of their financial lives. 

Nubank CTO Matt Swann said that Nubank intends to grow and generate positive local impact using technology, data and thoughtful service to eliminate the anxieties that customers face daily as they deal with Latin American banks. 

“With data coming in from hundreds, if not thousands, of locations, Splunk provides us with foundational visibility into our systems, helping us to diagnose, solve, monitor and manage in a more efficient way,” Swann said.

“Data is one of our most valuable assets and we rely heavily on Splunk to manage and remove the complexities with microservices so we can focus on delivering the best customer experience,” the CTO added. 

Splunk is Nubank’s “one-stop shop” for IT monitoring and business needs. As a digital-only bank, Nubank needs a unique approach to help ensure it can operate without physical locations to save its customers time and reduce bank fees. 

The Nubank engineering team uses the Splunk Cloud Platform to seamlessly interact across departments with security professionals and compliance teams under one common language. 

From service logging to security and compliance, Splunk provides Nubank with the information needed to derive insights regarding how systems are operating and how services are delivered to customers. 

“It’s estimated that Nubank customers have avoided paying $4.6 billion in bank fees and saved 113 million hours in wait time and Splunk Cloud Platform has been essential in providing us the flexibility and agility to react to customer needs quickly,” said Swann. 

Also, Nubank leverages Splunk’s workload pricing to meet growth projections and budgetary goals by right-sizing their rate of ingest. 

Workload pricing has offered flexibility and adaptability as the company continues its rapid expansion and supports its customer base. 

Katie Bianchi, SVP and chief customer officer of Splunk said Nubank’s use cases are constantly evolving and Splunk is providing them the flexibility they need to respond to customer needs more efficiently and in a cost effective manner. 

“Having worked together since 2015, Splunk continues to support Nubank’s mission to simplify the financial lives of their customers with transparency and security,” said Bianchi.