Fintech Showdown: Nu Holdings vs. SoFi Technologies in Digital Banking Race

Nu Holdings (NU 0.68%) and SoFi Technologies (SOFI 1.00%) emerge as frontrunners in the digital banking revolution, though their strategies diverge geographically. Nu dominates Brazil's financial landscape with 60% adult penetration, while making inroads in Mexico (13%) and Colombia (9%). The Brazilian disruptor capitalizes on a historically underserved market, now pivoting toward premium services for higher-income segments.

Revenue growth stems from aggressive cross-selling and product expansion across all markets. Meanwhile, SoFi's US-centric model faces different competitive dynamics. Nu's first-mover advantage in Latin America positions it uniquely—transforming from a niche player to a mainstream financial force while maintaining substantial monetization headroom.