Consumer banks are racing to leverage social media and win over younger customers. But with 44% of Gen Yers believing that banks don’t understand them, they’ve had little success. In Brazil, Banco Original – for ‘people who don’t need banks, but need banking’ – is about to show them how it’s done.

In Brazil, applying for a credit card is a whole lot of hassle. But mobile-first service Nubank is harnessing the 90 million-strong smartphone circulation to replace all that poor service and paperwork with a streamlined, app-based offering. Is this the future of Brazilian banking?

Mobile phones are the primary source of internet connection for people in Brazil which – according to a Visa study – is reflected in the country's spending habits. And as mobile banking has outstripped internet banking, the rise in digital payments can now cater to an 'unbanked' 60 million people.

As people become accustomed to using their mobile phones for common everyday tasks like shopping, social media, and getting around, mobile finance services are also gaining traction. In Brazil, mobile banking accounts for a third of all transactions made.