Launching a bank in the U.S. involves layers of super complex compliance, legal requirements, and auditing. For Nubank, a Brazilian-based digital bank that launched in the U.S. last month under the name Nu, the branding was actually the hardest part.

Building a customer support team or launching a platform for credit cards “are clear, more objective things that we need to do,” cofounder Cristina Junqueira tells Fast Company. “The brand is, in my opinion, the hardest thing that we need to do because there’s no playbook.”

Founded in 2013 with a purple outline logo of mirrored shapes in the form of the letters for nu, Nubank’s customer base grew in just over a decade to more than half of all Brazilian adults. It now has more than 140 million customers in Brazil, Mexico, and Colombia. Its only major brand refresh came in 2021, when it color-filled the logomark in purple. Now as the company looks ahead to greater international expansion, it wants to modernize its visual brand.

That’s because over time, Nu’s brand attributes were becoming category attributes, according to Junqueira. Its brand color alone is something of an industry standard color, says Arthur Foliard, NYC executive creative director at the creative agency Koto that designed the new visual identity. “Purple is everywhere in fintech,” Foliard says. “You see it more and more.”

So, the bank decided to keep but refine the industry-defining color, and introduced a new secondary color palette that works alongside the new purple.

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