Nubank has strengthened its AI-first strategy with the acquisition of Silicon Valley-based data intelligence company Hyperplane for an undisclosed fee.
Founded in 2022, Hyperplane helps banks unlock the potential of their first-party data to create personalized customer experiences.
The platform enables clients to train, evaluate and deploy self-supervised deep learning models on first-party data for decision making. By acting as a central hub, banks can train hundreds of custom models across business areas such as risk, collections and marketing.
Just months after securing $6 million in seed funding, the startup was acquired by Nubank, the Brazilian digital banking giant that recently surpassed 100 million customers.
Nubank says Hyperplane's systems will be seamlessly integrated to deliver immediate benefits and provide smarter, fairer and more personalized financial products and services to its customers.
The bank processes petabytes of data every day, and Hyperplane will now strengthen its core machine learning capabilities and build underlying models that its product and engineering teams use to “create the best customer experience at every step of the way,” the company said in a statement.
“Nubank's mission since our founding has been to combat complexity and empower our passionate customers. Our early investments in AI, combined with the incredible infrastructure and talent the Hyperplane team has built, will accelerate our mission,” said David Vélez, CEO of Nubank.
