Nubank Says AI Helped the Firm Boost Clients’ Credit-Card Limits

Nu Holdings Ltd. said artificial intelligence features it started to deploy in Brazil helped the fintech increase credit-card limits for some clients, boosting third-quarter revenue and profit.

Nubank, as the company is known, said its portfolio rose 42% to $30.4 billion through September, according to financial statements Thursday. Chief Financial Officer Guilherme Lago said AI helped increase underwriting capabilities, something Nubank predicts will allow it to grow its business without commensurate increases in risk.

“The one that has provided so far the biggest impact is improvements in credit underwriting, and we could say this better underwriting can help us accelerate ...