Nubank launches Modo Rua, an innovative safety feature that simplifies setting transaction limits

São Paulo, October 13, 2022 – Nubank, one of the largest digital financial services platforms in the world, will start testing Modo Rua (Street Mode), an in-app original tool that allows customers to determine a total limit for transactions via Pix, TED or boleto (a type of before leaving their homes.

Similar to using “airplane mode” on their cellphones, customers can activate “Street Mode” with just one click in the Nu app after defining a safe Wi-Fi network and a maximum limit for transactions when the phone is not connected to that network. The tool helps customers protect their accounts from criminal transactions if someone else gains access to their device. Nu expects to start tests of “Street Mode” with part of its customer base in the upcoming days, which will set the bases for a broader rollout in the future.

With Modo Rua, Nubank advances its protagonism among financial institutions in digital security, focused on leveraging technology to protect the customer while reducing complexity. This novelty adds to a series of security mechanisms that the Company already offers: scam warning, multifactor authentication, artificial intelligence models, and predictive risk analysis. In addition, Nubank is at the forefront of biometric data tools – including real-time proof-of-life facial biometrics, which few financial institutions have.

And, to help customers with information, tips, and procedures, Nubank also launched SOS Nu, a complete and easily accessible hub on our blog with educational content about fraud attempts involving passwords, fake slips, cloning of credit cards, scams via Pix or WhatsApp, cellphone theft, among others.

“Innovation is in Nubank’s DNA. Our challenge is to give customers peace of mind, avoid and solve their pains, and always be one step ahead. Prevention is more important than ever in the face of current public safety topics. Modo Rua is an innovative, intuitive, and simple feature, and another layer of protection in the very robust system we already have”, says Cristina Junqueira, co-founder and CEO of Nubank in Brazil.

Nubank was evaluated as very safe by the vast majority of its customers; according to a survey by QualiBest Institute, 88% of Nubank customers feel secure. On a scale of 1 to 5 (from “not at all safe” to “very safe”), 67% chose level 5 (very safe), and 21% chose level 4, which places Nu among the best-rated institutions. Recently, Nubank has reached the 70 million customer mark, 66.4 million of which are in Brazil.

New security measures include:

• “Street Mode”: Nubank’s customizable security tool that customers can activate before leaving their homes to determine transaction limits in the app when not using a predefined Wi-Fi network.
• Scam warning: To help consumers avoid scams and fraud, the app will show a warning when a transaction appears to be a scam.
• Proof of Life Password Recovery: Every PIN or password reset request will require a proof-of-life facial biometrics test.
• Proof of life for all suspicious transactions: Today, this feature is triggered on Pix transactions that are considered suspicious. It will also be required in suspicious transfers by TED and bank slips.
• Priority assistance: A new assistance tool to more precisely prioritize service to cases of scams and robberies and, thus, reduce the resolution time.
• SOS Nu: Security hub with information, tips, and procedures that explain to customers how to act in adverse situations in which personal data is compromised. It can be accessed through the link https://blog.nubank.com.br/sos-nu/.
• The company also has specialized teams with global experts in various functions working specifically to protect consumers. 
• Nubank ostensibly offers digital education content on its platforms to customers and non-customers. There are almost a hundred posts with tips on protecting yourself on the blog “Fala, Nubank”.

How does Street Mode work?

The new tool, which will be tested with a reduced customer base, is very straightforward. Customers just need to access the “security” section of the app, click on “Street Mode”, and follow the instructions to set the transaction limits and a secure Wi-Fi network. That’s it. In a few seconds, the message that the Nu app is “even safer” appears.

This setup is only necessary once. Whenever the customer disconnects from the predefined secure Wi-Fi, Street Mode is activated again without having to repeat the configuration. If the pre-established limit is exceeded while using the app, the customer can go through facial recognition authentication with proof of life to authorize going over the limit. To modify the limits, it is necessary to return to the initial configuration and repeat the procedure, using facial recognition.

Good cyber protection habits:

• Avoid simple passwords.
• Do not leave them written down or anywhere on the device.
• Do not send access codes to third parties.
• Set up different passwords for each financial institution.