Originally introduced in July 2022 for individual customers, Caixinhas facilitates straightforward financial organisation and planning with customisation options and a yield component. According to Nubank, this functionality will be progressively introduced to business clientele.
The decision to expand Caixinhas to business accounts stemmed from a survey involving approximately 3,000 business proprietors and decision-makers, predominantly in the segment of Individual Microentrepreneurs (MEI), small enterprises, and medium-sized enterprises. Nubank recognised an opportunity to provide its SME Account with its inaugural investment product based on the survey results. Notably, over half of MEI participants expressed an inclination for saving, while approximately 74% of medium-sized enterprises acknowledged investing for future endeavours.
Nubank's study also revealed that, on average, 41% of business owners seek straightforward and easily comprehensible financial solutions. Additionally, 38% indicated a preference for high liquidity and low-risk financial products. Notably, the willingness to assume risk and invest for the long term was more pronounced among medium-sized companies, largely due to the prospect of higher returns.
Officials from Nubank emphasised the significance of the Caixinhas integration into the SME account, noting that it aligns with Nubank's commitment to empowering Brazilian entrepreneurs with control over their finances in a simple and efficient manner. The feature allows business customers to plan for medium and long-term goals by depositing funds into customisable Caixinhas, associated with specific objectives such as tax payments, unforeseen expenses, or equipment purchases. The invested funds are directed to Nubank's RDB (Bank Deposit Certificate), yielding 100% of the CDI according to Nubank.
Similar to its application for individual customers, Caixinhas in Nubank's SME account enables entrepreneurs to set financial goals linked to defined objectives. A simulator assesses the required amount to achieve the goal, accompanied by a dynamic progress-tracking bar. Customisation options include personalised names and photos within the app, enhancing the connection between invested funds and tangible business plans. This feature is particularly noteworthy in a segment traditionally characterised by conventional investment options with high initial values or specific periods.
In conjunction with the Caixinhas expansion, Nubank is streamlining its app for business customers, aiming for enhanced efficiency and navigation.
The redesigned app will feature three main tabs. 'Day-to-day' encompasses core features such as card management, balance, payments, and transfers, while 'Billing' houses the collection centre and 'Management' offers financial organisation tools, including Caixinhas.
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