Nubank is implementing the newly launched NuCoin points program with the goal of recognizing customers who use the institution as their primary bank, and not just those who make the largest card expenditures. In an exclusive conversation with Tecnoblog, Vice President Arthur Valadão detailed that all banking services will be integrated into the program, including the NuCel telephony service, which will soon have a new product available.
Valadão describes NuCoin as a system aimed at those who demonstrate engagement and establish Nubank as their primary financial institution, meaning where the customer's daily transactions are concentrated. Furthermore, the executive emphasized the importance of valuing consumers who have maintained a relationship with Nubank for ten years.
The reformulation was officially announced on September 23rd. Participation in the program is free and open to all customers of the card known as Roxinho, which represents the bank's main segment. The program format has similarities to Itaú's Minhas Vantagens, featuring five levels that users can achieve by accumulating points.
When questioned about competitors, Valadão explained that adopting this model occurred after a market analysis and, fundamentally, after listening to its own customer base. Currently, NuCel has an almost independent recognition: those who subscribe to the specific line receive a differentiated Turbo Box, offering a yield of 120% of the CDI, higher than the standard. Valadão reinforced that all products will be connected to NuCoin, as using ecosystem items, such as NuCel, will contribute to level progression.
Initially, scoring prioritizes card usage: the customer accumulates one point for every R$ 5 spent on credit and every R$ 6 on debit. Additionally, timely payment of invoices or loans also generates points, and the app details the value of each action. Point accumulation increases proportionally to the number of products used by the customer. Unlike other institutions, investments are not yet included in this initial phase of NuCoin; the connection to this area is currently limited to Turbo Boxes unlocked according to the achieved level, such as the 115% of CDI box at level 4. However, Valadão mentioned that saving and investing will eventually start to score, as they are considered 'financially healthy actions.'
The benefits were designed based on spending patterns and interviews conducted with Roxinho segment customers. The result favored discounts with partners such as Shopee, Uber, and O Boticário. The survey also revealed interest in internal advantages of Nubank itself, leading Valadão to cite examples such as cell phone insurance and discounts on the next loan. Identifying a large portion of customers with an affinity for gaming drove the program's gamification. One aspect of this is the raffle: for every R$ 100 spent on credit, the customer receives numbers for weekly, monthly, and quarterly raffles. The first prize was set at R$ 500 thousand, drawn by the Federal Lottery. Valadão emphasized that 'the customer only has to win,' as there is no need to exchange points to participate. He contrasted this profile with that of the Ultravioleta customer, who shows greater interest in travel expenses.
Customers in the high-income segments, Ultravioleta and Nubank Croma, are not part of NuCoin because they already have their own loyalty programs. NuCoin operates in quarterly seasons, a model Valadão described as 'totally inspired by games.' Although benefits are renewed every quarter, the core of the program remains constant to avoid confusion, allowing less used advantages to be exchanged in the subsequent season. The achieved level is valid until the end of the season, and while it can increase during the quarter, it can never decrease, aiming to offer predictability to the customer. The maximum level, level 5, grants the opportunity to compete for tickets to events at Nubank Parque and exclusive experiences.
The decision to implement levels generated internal debate. A program without levels would be simpler to develop but would prevent the segmentation of benefits according to each user's engagement level. Valadão stated that the structure was not copied from Itaú or any other competitor. The customer can check their level in the app, which contains information about the program's operation both upon joining and in a dedicated section. Finally, Valadão informed that Artificial Intelligence was used to speed up the development of NuCoin, being intensively applied in some of the program's games, in addition to assisting in analyses and simulations. However, defining what to build came from conversations with customers, and Valadão classified AI as 'a tool to produce a better product and not to define what we would do.' Doubts about the program can also be resolved by AI within the app.