Nubank has been approved as an associate member of Febraban, the Federation of Brazilian Banks, following a unanimous vote by Febraban's Board of Directors at its first regular meeting of 2026.
The membership was approved on the recommendation of board member Milton Maluhy Filho and will see Nubank participate in Febraban's main decision-making bodies and strategic discussions on institutional matters.
The move is aligned with Nubank's ongoing pursuit of a full banking licence in Brazil. The company is currently classified as one of the largest private financial institutions in Brazil by customer base, serving 113 million customers in the country, more than 60% of the Brazilian adult population, and 131 million globally across its operations. Additionally, Nubank reported USD 16.3 billion in revenue and USD 2.9 billion in net income in 2025.
Institutional context and membership rationale
With its operations started 12 years ago, Nubank has built its position as one of the largest digital financial services platforms in the world on a technology-driven, fully digital business model. The company states it has brought 29 million people into the financial system in Brazil and maintains one of the lowest complaint rates in the industry, according to the Central Bank of Brazil's rankings.
Joining Febraban extends Nubank's existing institutional engagement, which includes participation in industry associations Zetta, ABBC, and ANBIMA. Febraban membership provides access to higher-level policy and regulatory dialogue forums within the Brazilian banking sector, which had previously been dominated by traditional financial institutions.
When it comes to Febraban, the admission reflects a stated commitment to plurality and representativeness within the federation, as Brazil's financial system continues to evolve with the growing scale of digital-native institutions.
Commenting on the news, Febraban CEO Isaac Sidney said Nubank's membership reflects the institution's interest in actively participating in industry dialogue, while also highlighting Febraban's commitment to diversity and high-quality debate. Expanding on this, Livia Chanes, Nubank's CEO for Brazil, noted that the partnership strengthens Nubank's contribution to the resilience of the financial system while remaining focused on reducing complexity for customers.
