Nu México to Launch Commercial Banking Operations Aug. 6

Nu México will officially launch commercial banking operations on Aug. 6 as the country's largest digital bank, following final regulatory authorization from CNBV and SHCP to complete its transition from a SOFIPO. The multiple banking license enables the platform to expand its deposit and lending portfolio across 15% of Mexico's adult population, accelerating a structural shift from cash to digital financial services. Backed by a US$4.2 billion investment commitment through 2030, this milestone intensifies competition within Mexico’s banking sector as branchless institutions leverage lower fee structures to capture market share and deepen formal financial inclusion.

——

Nu México will officially begin operating as a commercial bank on Aug. 6, following its final regulatory authorization from the National Banking and Securities Commission (CNBV) and the Ministry of Finance and Public Credit (SHCP) received in early July. Upon launching multiple banking operations, Nu will become Mexico's largest digital bank, serving a customer base exceeding 15 million clients.

To complete the regulatory transition from a Popular Financial Society (SOFIPO) to a multiple banking institution, Nu México will carry out a planned technical infrastructure migration on Aug. 5 between 17:30 and 22:00 hours. During this four-and-a-half-hour window, certain app services and Electronic Interbank Payment System (SPEI) transfers will be temporarily unavailable, including balance inquiries and account statement downloads. However, debit and credit cards will operate normally, and customer funds will remain completely secure at all times. Nu is notifying users directly via email and in-app alerts one week prior to the migration to allow customers to schedule their pending transactions accordingly.

The transition to commercial banking strengthens Nu’s contribution to digital finance in Mexico, where it currently serves approximately 15% of the country's adult population. Operating as a licensed commercial bank allows Nu to expand its product portfolio significantly by scaling its lending business, introducing additional deposit products, and rolling out comprehensive banking services tailored to Mexican consumers.

"This milestone is a starting point to continue closely accompanying our customers. Operating as a bank gives us the tools to evolve alongside them, maintaining the same essence, simplicity, and transparency as always, now with more possibilities. We remain ambitious to consolidate ourselves as Mexico's most loved bank," stated Armando Herrera, CEO of Nu México.

According to company figures, Nu customers have saved approximately MX$48.5 billion (US$2.78 billion) in commission fees, annual charges, and transfer costs by utilizing its fee-free digital model. This approach has altered everyday financial habits, as nearly 60% of Nu clients report using less cash than before, while 86% rate the platform's impact on their financial life and stability as high.

US$4.2 Billion Investment Commitment 

Ahead of the banking launch announcement, David Vélez Osorno, CEO and Founder, Nubank, met with Mexican President Claudia Sheinbaum at the National Palace to formalize a US$4.2 billion investment commitment for the 2026–2030 period. The expansion plan allocates US$2.5 billion specifically for capital expenditures over the next four fiscal years. 

Per Herrera, the newly committed capital will accelerate investment in technology, talent acquisition, operational capacity, and employee development. He noted that achieving the platform's customer-centric growth strategy will require sustained investments in technological infrastructure and operational execution. 

This long-term investment reinforces Nu's market presence in Mexico, where it ranks among the country's five largest financial institutions and stands as the third-largest credit card issuer. The company maintains a rapid growth trajectory, adding approximately 1 million new clients every quarter.

Nunank's Expansion Strategy in Mexico

Nubank, parent company of Nu México, provides digital financial services across Brazil, Mexico, and Colombia through a fully digital, branchless platform. The organization serves more than 135 million customers across Latin America, reflecting sustained regional growth. During 1Q26, the digital platform added approximately 4 million new users across its regional footprint. Brazil remains its largest market with more than 115 million customers, while Colombia accounts for nearly 5 million users, and Mexico serves nearly 15 million customers.

The company's long-term strategy focuses on expanding financial inclusion by serving Mexico's underbanked population. Herrera estimated that approximately 60% of Mexicans still lack access to formal digital financial services, highlighting what the company identifies as its largest growth opportunity. Nu aims to leverage its commercial banking license to position itself as its users' primary financial institution while solidifying its position as the country's largest digital bank by customer volume.