Nu Colombia announced a partnership with Puntored to allow customers to make free cash deposits into their Nu accounts at over 15K locations across the country.
Puntored provides financial services to underbanked individuals in rural and isolated communities in Colombia, and its network of banking correspondents expands Nu’s coverage to 100% of Colombian municipalities.
With this partnership, Nu aims to strengthen its position as a transactional account provider by integrating cash deposits, PSE payments, and Nu Placa into its offering. Nu Placa a six-digit identifier linked to Nu savings accounts that allows instant, free, and secure transfers between Nu accounts without sharing personal information.
“We’re excited to be Nu’s first banking correspondent in Colombia, a milestone that reinforces our position as the preferred correspondent network in the country. This partnership brings inclusive and accessible financial services closer to Nu’s customers, aligning with our mission of driving financial inclusion nationwide,” said Andrés Albán, CEO of Puntored.
Earlier this month, Nubank announced a similar partnership with FINABIEN in Mexico.
Nubank expanded to Colombia in 2020 and reported $220M in deposits and over 1.2M customers in the country as of Q2 2024.
Read more on LatamFintech Hub.