Digital banking platform Nubank has acquired Hyperplane, a data intelligence company, for an undisclosed amount in an effort to accelerate its AI-first strategy.

Nubank said the purchase of Hyperplane will enable the company to create connections between broad contexts, generate valuable insights, support decision-making and improve customer experience.

Hyperplane will power core machine learning capabilities at Nubank and help build foundational models that the product and engineering teams use. Nubank added that it’s existing infrastructure and integration path means that it can “immediately” utilise Hyperplane’s AI capabilities.

Hyperplane, founded in 2022, helps financial institutions train, evaluate and deploy self-supervised deep learning models on first part data for decision making. Its customers train bespoke models across different areas of business such as risk, collections and marketing.

“Nubank’s mission since its founding is to fight complexity and empower fanatical customers,” said David Vélez, founder and chief executive of Nubank. “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.

“Consumers globally will access not only the very best financial products but also receive truly customised financial advice that empowers them to live a better life.”

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