About this Video

• Video Title: Nu Videocast | Roberto Campos Neto and David Vélez | The present and future of finances
• Channel: Nubank
• Speakers: Leila Suwwan, David Vélez, Roberto Campos Neto
• Duration: 00:43:22

Introduction

This Nu Videocast features an interview with Roberto Campos Neto, former President of the Central Bank of Brazil, and David Vélez, Founder and CEO of Nubank. The conversation covers Roberto's decision to join Nubank, the impact of Pix (Brazil's instant payment system), the future of financial services, and the global macroeconomic landscape.

Key Takeaways

• Roberto Campos Neto's move to Nubank: His decision was driven by Nubank's commitment to innovation, its success in a competitive market, and the alignment of their goals regarding internationalization and regulatory engagement. His expertise in regulation and technology will strengthen Nubank's global expansion.
• Pix's phenomenal success: Pix, implemented under Campos Neto's leadership at the Central Bank, has become a globally recognized success story, achieving over 250 million daily transactions and driving significant digitalization and financial inclusion in Brazil. Its success is attributed to its user-friendly design, low cost, speed, transparency, and security.
• Innovation in the Global South: The video argues that emerging markets, like Brazil, are fertile ground for financial innovation due to greater consumer pain points and opportunities for disruption. The combination of substantial consumer needs, enabling regulation, and entrepreneurial spirit fosters groundbreaking technological advancements.
• The future of financial services: The speakers identify AI-driven financial advice and the tokenization of assets as key areas for future disruption. Tokenization promises to revolutionize capital markets and asset registration, creating a more efficient and globally interconnected financial system.
• Macroeconomic challenges: The discussion highlights the global challenge of high debt levels and inflation stemming from pandemic-era economic stimulus. The speakers emphasize the need for governments to foster private sector growth and reduce bureaucracy to address these issues effectively.

The discussion about AI primarily centers around its potential to democratize financial knowledge and investing. David Vélez suggests that while digital banking has broadened access to financial services, AI can further democratize financial knowledge and investment strategies. He believes AI can help individuals make better financial decisions, regardless of their wealth. The potential to provide the same quality of financial advice to someone earning a modest income as to the wealthiest individuals is highlighted as a transformative aspect of this technology.

Roberto Campos Neto also mentions AI as one of the two pillars (along with tokenization) shaping the future of financial services, believing it will increase market segmentation, further enhance financial inclusion, and boost efficiency by helping people avoid poor financial choices. The conversation doesn't delve into specific AI applications or technologies, but focuses on the broader societal impact of making sophisticated financial knowledge readily accessible through AI.