Nubank Brazil CEO Livia Chanes isn’t interested in building an “AI bank.” She’s building a bank that works, and she believes that distinction matters more now than ever.

“Customers don’t care if it’s AI-enabled or not,” Chanes said in an interview with Fortune at the Most Powerful Women Summit. “I think customers just want to have the best experience possible.”

At a time when CEOs across industries are rebranding products as “AI-powered” to meet investor expectations, Chanes’s stance is a differentiator, and Nubank is in a strong position to challenge conventional wisdom.

It is now the largest digital bank in the world by number of customers, with more than 120 million users across Brazil, Mexico, and Colombia, and a market value of roughly $50 billion, larger than many U.S. regio

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