Nubank is the best Latin American digital bank according to the global ranking of Forbes 2020

June 8, 2020
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The American business magazine interviewed customers in more than 20 countries and highlighted the importance of digital banking for the future.

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There at Nubank, they struggle every day to fight the bureaucracy of the financial system and give people control over their money. Over the years, they have already received several recognitions that show that they are on the right path - and today, June 8, another one came:

Nubank was considered the best bank in Brazil in the ranking of Forbes magazine.

The list was compiled by the American business magazine in partnership with market research firm Statista. More than 40,000 customers in 23 countries were interviewed. The questions revolved around questions such as:

  • Trust in the banking institution;
  • Quality of customer service;
  • Digital services;
  • Financial advice;
  • Contract terms and conditions.

According to Forbes, Nubank was considered “the bank with the best ranking in Brazil, surpassing an oligopoly of traditional banks”.

The future of finance is digital

In releasing the list, Forbes highlighted the rise of fintechs and digital banks around the world, citing the importance of simple and innovative digital resources.

According to the magazine, the Covid-19 pandemic, which prevented many people from leaving home to go to bank branches, made the demand for these resources even more urgent.

At Nubank, they saw it up close: since the pandemic started, the use of a number of tools in their app has increased, such as cell phone recharge (86% growth) and virtual card use (31% growth between March and April). The number of customers over 60 has also grown.

They know that the current scenario, of the pandemic, has brought many difficulties and their teams remain focused on continuing to make the financial system uncomplicated and supporting our more than 25 million customers.

Heading this list is an acknowledgment that they are on the right track - offering digital products, without abusive tariffs and with incredible service.

The ranking

Digital and mobile technologies are revolutionizing the global banking market and it’s a matter of adapt or die for the world’s biggest lenders and the up and comers looking to supplant them. When the coronavirus pandemic closed main streets around the world, banks saw firsthand the need for rock-solid online banking capabilities, digital payments technologies, and smartphone applications that clients could use while in quarantine.

Even before Covid-19 changed everything about the way we live, customers around the world wanted and expected the ability to check balances, cash checks, and apply for loans with just a few easy clicks. For the second year running, Forbes has partnered with market research firm Statista to produce our list of the World’s Best Banks.

Instead of gauging the balance sheets and P&L statements, as Forbes does for its ranking of the 100 largest publicly-traded U.S. banks published annually, Statista surveyed more than 40,000 customers around the globe for their opinions on their current and former banking relationships.

Banks were rated on general satisfaction and key attributes like trust, fees, digital services and financial advice.

See the Forbes ranking and full report here

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

There at Nubank, they struggle every day to fight the bureaucracy of the financial system and give people control over their money. Over the years, they have already received several recognitions that show that they are on the right path - and today, June 8, another one came:

Nubank was considered the best bank in Brazil in the ranking of Forbes magazine.

The list was compiled by the American business magazine in partnership with market research firm Statista. More than 40,000 customers in 23 countries were interviewed. The questions revolved around questions such as:

  • Trust in the banking institution;
  • Quality of customer service;
  • Digital services;
  • Financial advice;
  • Contract terms and conditions.

According to Forbes, Nubank was considered “the bank with the best ranking in Brazil, surpassing an oligopoly of traditional banks”.

The future of finance is digital

In releasing the list, Forbes highlighted the rise of fintechs and digital banks around the world, citing the importance of simple and innovative digital resources.

According to the magazine, the Covid-19 pandemic, which prevented many people from leaving home to go to bank branches, made the demand for these resources even more urgent.

At Nubank, they saw it up close: since the pandemic started, the use of a number of tools in their app has increased, such as cell phone recharge (86% growth) and virtual card use (31% growth between March and April). The number of customers over 60 has also grown.

They know that the current scenario, of the pandemic, has brought many difficulties and their teams remain focused on continuing to make the financial system uncomplicated and supporting our more than 25 million customers.

Heading this list is an acknowledgment that they are on the right track - offering digital products, without abusive tariffs and with incredible service.

The ranking

Digital and mobile technologies are revolutionizing the global banking market and it’s a matter of adapt or die for the world’s biggest lenders and the up and comers looking to supplant them. When the coronavirus pandemic closed main streets around the world, banks saw firsthand the need for rock-solid online banking capabilities, digital payments technologies, and smartphone applications that clients could use while in quarantine.

Even before Covid-19 changed everything about the way we live, customers around the world wanted and expected the ability to check balances, cash checks, and apply for loans with just a few easy clicks. For the second year running, Forbes has partnered with market research firm Statista to produce our list of the World’s Best Banks.

Instead of gauging the balance sheets and P&L statements, as Forbes does for its ranking of the 100 largest publicly-traded U.S. banks published annually, Statista surveyed more than 40,000 customers around the globe for their opinions on their current and former banking relationships.

Banks were rated on general satisfaction and key attributes like trust, fees, digital services and financial advice.

See the Forbes ranking and full report here

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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