NU

Nu Holdings, known to customers as Nubank, runs a digital bank that operates entirely through a mobile app across Brazil, Mexico, and Colombia. It has no physical branches, which keeps costs low, and it makes money by charging interest on credit cards and loans, plus fees on other financial products like insurance and investment accounts. The company built its business by offering free checking accounts to people the traditional Latin American banking system had underserved, and it has grown into one of the largest digital banks in the world by customer count.