THE Brazilian fintech company Nubank began operations seven years ago with seed capital of $2m and a mission to challenge the status quo. Brazilian banking clients complained of high interest rates and poor customer service before the arrival of Nubank. The digital bank slashes bureaucracy and red tape with smartphone-accessible accounts that require no physical paperwork or branch visits. Nubank offers credit cards, personal loans and savings accounts, featuring competitive rates and no fees. The offering has attracted a stampede of interest from consumers as well as investors, as evidenced by its leading presence in Brazil, Mexico and Argentina — and the $820m raised over seven funding rounds. The BV judging panel declares Nubank as the 2020 Best Digital Banking (Brazil) award winner.