Digital bank Nubank has chosen Nasdaq’s regulatory reporting system, AxiomSL, for its operations in Latin America.
This partnership builds on an existing relationship, with Nasdaq already providing technology for Nubank’s treasury function, as well as its fixed income and money market capabilities. AxiomSL will specifically be implemented to assist Nubank in meeting its regulatory reporting needs in Colombia.
Nasdaq currently serves around 50 banking and payment services clients in the region. This agreement underscores the increasing growth of digital banking across Latin America.
“Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking, and innovative technology empowering a new generation of consumers,” stated Ed Probst, senior vice president of regulatory technology at Nasdaq.
“We welcome the opportunity to expand our partnership with Nubank, along with many other clients in the region, to support their ambitious growth trajectory.”