Digital Channels
Offering members core digital transaction services such as online and mobile banking, online payments and online loan processing.
Challenge 2025
The Digitization of the Global Credit Union System
A New Decade, A New Goal
In 2014, World Council of Credit Unions set a goal of reaching 260 million credit union members worldwide by 2020.
Through a concentrated worldwide effort, credit unions were able to reach our "Vision 2020" goal by 2017. But that growth was not even across all countries or among all credit unions. The credit unions that grew were those that offered core services via online and mobile channels. That is why we are now addressing how we increase membership going forward—through the digitization of the global credit union system by 2025.
Measuring Global Digitization
World Council will measure the digitization of credit unions in four key areas and report annually on the progress being made toward Challenge 2025.
Follow Our Progress, Tell Us About Yours
Track the latest developments in digitization by subscribing to our Challenge 2025 Blog. You can also send us updates on how your credit union or credit union system is striving to help us meet Challenge 2025 at communications@woccu.org.
2021-04-15
The Rise of Digital ID: It is Not All The Same
Given the vast percentage of online financial interactions members have with their credit unions, we could all really use a reliable digital authentication solution. If only you could simply ask for a physical ID in a digital setting, right?
Read More2021-04-01
Australia: Setting the Pace on Open Banking
Ready or not, credit unions down under are already preparing for the cost, compliance and cybersecurity issues that open banking poses, due to an aggressive approach from Australia’s federal government.
Read More2021-03-18
Synergent and the Irish League of Credit Unions Collaborate on Technology Strategy
Synergent and the Irish League of Credit Unions (Irish League) recently met to discuss how the credit union movement can work together to achieve better outcomes for members through technology.
Read More2021-03-04
Canada’s Credit Unions Line Up for Open Banking
Financial services are in the process of being reshaped globally, and Canada is no exception, as Open Banking is putting consumers in control of their data and allowing them to dictate with whom and how it is shared.
Read More2021-02-18
Digital by Default
It is stated that digital transformation refers to anything from cloud computing, modernizing legacy systems, digital process optimization or creating new business models.
Read More2021-02-04
'Clean’ Contactless Cards Key To Pandemic-Driven Digital Adoption Surge
This post is provided by Credit Union Executives Society (CUES), an associate member of World Council.
Very few industries have remained unaffected by COVID-19, and the payments industry is no exception.The ongoing pandemic is acting as a driver for consumer payment choices and purchasing behavior, influencing how and where we transact, along with what forms of payment we use and why we choose to use them.
2021-01-21
Eastern European Credit Unions Share Digitization Success Stories on Webinar
Representatives of the credit union movements in Poland, Estonia and North Macedonia shared stories of their digital transformation on a January 21 webinar presented by World Council and the Eastern European Regional Credit Union Center.
Read More2021-01-06
New Year Brings Increased Urgency for Digital Transformation
Like the rest of the world, credit union professionals across the globe breathed a collective sigh of relief when the calendar finally flipped over to 2021.
Read More2020-12-04
The Digital Transformation of Financial Services
As we look to the future, there is little doubt that the financial services industry will continue its transformation driven by a drive-for-scale and the ability to make appropriate investments in technology and innovation. The industry consolidation trend we have witnessed for decades will accelerate.
Read More