Expansão internacional e digitalização financeira na América Latina: o caso do Nubank

Abstract

This study aims to analyze the characteristics of Nubank's international expansion, one of the leading fintechs in the world, based on the process of financial digitalization in Latin American countries. Methodologically, the research adopts a qualitative approach, grounded in literature review and a case study on Nubank's expansion. The analysis is based on Dunning's Eclectic Theory and demonstrates that Nubank utilized its competitive advantages—advanced technology, efficient digital model, and operational control—to consolidate its international presence in the Latin American market (Mexico and Colombia). It is noted that its scalable and digital business model allowed for accelerated growth, facilitating access to modern financial services, especially in markets with low banking inclusion. Thus, Nubank's contribution to the acceleration of financial digitalization in Latin America is evident, promoting greater banking inclusion and access to financial services.