Nubank is doubling down on its AI-first strategy with the acquisition of Silicon Valley-based data intelligence outfit Hyperplane for an undisclosed fee.
Launched in 2022, Hyperplane helps banks unlock the potential behind their first-party data to create personalised customer experiences.
The platform enables clients to train, evaluate, and deploy self-supervised, deep-learning models on first-party data for decision-making. Acting as a central hub, banks can train hundreds of bespoke models across business domains such as risk, collections, and marketing.
Just months after securing $6 million in seed funding, the startup has now been nabbed by Brazil's Nubank, the digital banking juggernaut that recently hit the 100 million customer mark.
Nubank says Hyperplane's systems will integrate seamlessly, with immediate benefits, bringing smarter, fairer, and more personalised financial products and services to customers.
The bank processes petabytes of data daily. Hyperplane will now power the core machine learning capabilities, building foundational models that the product and engineering teams consume to "create the best customer experience at every step of their journey," says a statement.
David Vélez, CEO, Nubank, says: "Nubank´s mission since its founding is to fight complexity and empower fanatical customers. Our early investments in AI, coupled with the impressive infrastructure and talent that Hyperplane team has been able to put together, will accelerate our mission."