“Can Colombia's Gilinski Group leverage its existing banking license and GNB Sudameris branch network to build the Nubank of Colombia?”
Lulo Bank is the digital-banking arm of Colombia's Gilinski Group (which also owns Banco GNB Sudameris and stakes in Grupo Nutresa). Launched in 2021 as a mobile-first consumer bank in Colombia, Lulo offers savings accounts ('Lulo cuenta'), debit cards, savings pockets (Bolsillos), and personal credit. In 2024-2025 it expanded into SMB banking via Lulo Empresas. Strategically it is positioned as Colombia's answer to Nubank — leveraging GNB Sudameris's physical branch network for cash deposits while delivering a digital-native UX.
Lulo Bank discloses Lulo Bank S.A. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Lulo Bank does not disclose a bank charter of its own; its banking services are provided through Lulo Bank S.A. (in-house).
Lulo Bank processes payments through Lulo Bank (in-house, chartered bank).
Lulo Bank's cards are issued through Lulo Bank S.A. (in-house).
The Embedded Finance Index 2026 maps 4 layers in Lulo Bank's stack: Payments / PSP (Lulo Bank (in-house, chartered bank)); Banking / BaaS (Lulo Bank S.A. (in-house)); Card issuing (Lulo Bank S.A. (in-house)); Lending (Lulo Crédito (100% digital personal loan) and Lulo Empresas business financing).
Lulo Bank is founded in 2021 and headquartered in Bogotá, Colombia.
Get a read on where your own stack stands against Lulo Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.