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Most Innovative Companies

Nubank

The World's Most Innovative Companies 2018

Since its launch in 2014, Brazilian fintech company Nubank has created banking solutions for populations that traditionally could not or did not access the five major banks in the country. It first introduced its signature purple credit card to alleviate high interest rates (upwards of 400% a year on other Brazilian credit cards) and make the credit process simpler with a virtual, app-based system (and no hidden fees)--and is now the 6th largest credit card issuer in Brazil. In 2017, the company expanded into high-interest savings accounts that customers can use to transfer money or pay bills. These accounts have a less strict credit-check process as the company targets the 30% of the population without bank accounts. Next up for Nubank is expansion into debit cards and ATM withdrawals.

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headquarters: Sao Paulo, Brazil
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