COVID-19 related government stimulus in Latin America drove digital banking adoption as millions put their government aid checks to use. Nubank, LATAM''s most valuable FinTech, increased its number of users in 2020 by 65% and enabled 500k users to access emergency cash.
| less than a minute read
COVID-prompted government stimulus drove millions to open new bank accounts in Latin America
“It was a little complicated at first because I didn’t know how to use the system and app but I learned...never in my life did I expect to have a debit card in my hands. It’s marvelous," said Donell Méndez, a Colombian street vendor and Movii customer.
