Many consumers in Latin America are no longer content to let brands sit on the sidelines of tough conversations. The events of 2020 have increased the public’s expectation that companies will take a stand on top-of-mind social causes, such as discrimination, poverty, and climate change.
As in many parts of Latin America, near-universal smartphone ownership contributed to remarkable amounts of daily time spent on mobile phones—5:03 on average, in this case. As of H1 2021, 73.8% of internet users owned a desktop or laptop, while 33.5% owned a tablet. Ownership of both devices had slipped from the year prior.
Nubank’s first H1 profit in Brazil vindicates its growth strategy: The neobanking giant reached first-half profitability at home—and its payment volume and loan book surged. Overseas expansion and a new paid account could continue this momentum.