Through the agreement, Nubank will be able to leverage Hyperplane's AI know-how to enhance its fundamental machine learning skills in an effort to provide its clients more individualized financial services and solutions.

Furthermore, Nubank plans to use the AI technology from its recent purchase to create fundamental models that its engineering and product teams can "consume" in order to improve the customer experience for customers at "every step of their journey."

Hyperplane, a 2022 startup, provides financial institutions with a platform for evaluating, training, and implementing self-supervised, deep learning models that use first-party data to improve decision-making.

With $6 million in early capital, the US start-up emerged from stealth mode towards the end of 2023. The business told TechCrunch that at the time, it was working with "about a dozen" Brazilian banks and had plans to enter the US market.

Co-founder of Hyperplane Felipe Lamounier claims that because of Nubank's "culture of innovation and maturity of their data stack," the company's purchase would "accelerate our vision of hyper-personalised consumer banking."

Nubank claims that the competitor will be able to immediately take use of Hyperplane's AI capabilities from "day one" thanks to its current technological infrastructure and "integration path."

"Our systems will easily incorporate Hyperplane's AI technology, improving our capacity to analyze big datasets and fine-tune our offerings. According to Vitor Olivier, CTO of Nubank, "this is a major turning point in our journey towards a smarter, AI-first banking ecosystem."