I am curious about how you started in the job and designed the strategy for Brazil and Mexico. How did you approach it? What were the main trade-offs and decisions? How did you leverage both the payment and commerce sides to build the banking position?

That collaboration is now starting to appear. The first bit of collaboration is more evident in the usage of data. Mercado Pago is now more aggressively issuing credit cards in Brazil and Mexico because they have changed the way they underwrite. Back in 2022 and 2023, underwriting was done like a traditional bank, using an out-of-the-box scoring software with traditional data points, which was ineffective.

I am curious about how you started in the job and designed the strategy for Brazil and Mexico. How did you approach it? What were the main trade-offs and decisions? How did you leverage both the payment and commerce sides to build the banking position?

If you want to achieve financial inclusion, traditional methods are not very effective. I was a strong advocate for non-traditional underwriting using non-traditional data. I saw it firsthand at Nubank, where they used a lot of data science, with multiple random forest models competing against each other, and retrained models every three months to improve specific variables.

I am curious about how you started in the job and designed the strategy for Brazil and Mexico. How did you approach it? What were the main trade-offs and decisions? How did you leverage both the payment and commerce sides to build the banking position?

They started hiring many data scientists and changing their underwriting approach from late 2023 to early 2024, using Mercado Libre's data more intensively. This is the first collaboration clearly visible in the market, influencing how they issue credit cards.