“The Nubank guys saw what we’re doing and recognized it is the right model for emerging markets. Credit is the hardest problem to solve and to underwrite customers at scale in multiple markets is challenging. It took us 18 months to build that. But now it’s up and running and performing.”

https://techcrunch.com/2022/04/13/digital-bank-umba-raises-15m-plans-to-expand-into-three-new-african-markets/#:~:text=In%20the%20latest%20development%2C%20Umba,seed%20round%20of%20%242%20million.