Challenge 2025

The Digitalization of the Global Credit Union System

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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 digitalization of the global credit union system by 2025.

Measuring Global Digitalization

World Council will measure the digitalization of credit unions in four key areas for Challenge 2025.

Digital Channels

Offering members core digital transaction services such as online and mobile banking, online payments and online loan processing.

Shared Platforms

Connecting your credit union to a shared payments system that allows for mobile payments and integrated with a national payments system.

Risk Management

Implementation of a cybersecurity system that complies with national regulations to protect members' identity and consumer data from digital attacks and intrusions.

Data Analytics

Employing data analytics to determine additional service offerings to members, and helping to identify those that need financial literacy or counseling services.

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.

Partnership with FinTech Allows Malawi SACCOs to Launch Online Banking Services, Core Automation

2025-06-26

Rumphi SACCO employees

A partnership between the Malawi Union of Savings and Credit Co-operatives (MUSCCO) and Malawi-based fintech MFI-Hub is bringing online banking to more SACCO members in the country.

Rumphi Teachers SACCO is the latest MUSCCO member organization to implement MFI-Hub’s digital lending, mobile, agency and ATM banking capabilities by integrating them into their core banking system. The software also allows the SACCO to automate, secure and manage their members’ data and activities.

"The launching of both the core and the mobile banking facility will assist our members in accessing their accounts with ease and allow them to make transactions wherever they are. They will no longer have to travel to branch locations, thus saving them time and money,” said Ulemu Kumwenda, Rumphi SACCOs General Manager.

According to MUSCCO digitalization statistics from May 2025, 68% of the SACCOs in Malawi are now fully automated.

Daniel Imfa, Information Technology Manager for MUSCCO, said MFI-Hub's software is the right technology for SACCOs, because it gives a 24/7 branch experience to the member and also simplifies and automates workflows to improve employee productivity. The core system’s service-oriented architecture integrates third party applications, thanks to APIs. Data is shared and managed in a fully secured environment through a unified database, allowing each individual SACCO to ensure data consistency. As a result, members also benefit from seamless customer support with a reduced response time.

Ernest Kuyeya, Technical Services Manager for MFI-Hub, commended the Rumphi Teachers SACCO Board for the timely decision of making sure the institution was also among the beneficiaries of the new Financial Inclusion and Entrepreneurship Scaling (FInES) Project, a five-year Government of Malawi initiative being implemented by the Reserve Bank of Malawi with support from the World Bank. The project is aimed at increasing access to financial services, promoting entrepreneurship and capabilities of MSMEs.

This is a modified version of a post that first appeared in its original form on the MUSCCO website. MUSCCO is a member of the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA), WOCCU's direct member organization in Africa.