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

Clover: Sicredi Offers Payment Solution with Intelligent POS Management

Sicredi, a credit union with over nine million members in Brazil, in August introduced Clover as the newest solution in its portfolio.

Developed by Fiserv, a global payment and financial technology company, the new solution aims to simplify point-of-sale (POS) operations and increase business efficiency by integrating payment functions and business management features into a single device.

Available in Flex and Mini models, Clover allows businesses to control and verify sales, both those made by card and other methods, such as Pix and digital wallets, facilitating the verification of amounts received.

It also offers advantages over traditional payment terminals, such as customer registration, employee management (for example, clocking in and out), consolidated reporting from multiple Clover devices and remote support directly at the terminal via chat, messaging and video calls, as well as WhatsApp and voice support.

Through embedded automation, Clover also allows for automatic invoice issuance, inventory control and event ticketing. The platform's versatility serves a variety of segments, ranging from bars and restaurants to clinics, pharmacies, gas stations, retailers and hotels.

The new solution strengthens Sicredi's relationship with legal entities, which represent a significant portion of its base: more than 1.3 million companies are members of the credit union. Sicredi also serves 350,000 small business members, accounting for more than a quarter of all small businesses in Brazil.

"We're constantly seeking innovations that make our members' lives easier, and Clover is a comprehensive solution that represents a significant advancement in how we support their businesses. We know that point-of-sale operations involve numerous challenges, and the search for integrated and practical platforms is constant. More than just a card machine, Clover is an ally in our members' efficiency and growth," says Felipe Sessin, Sicredi's Product Superintendent.

The launch comes at a time of strong growth for the credit union in the payment methods sector. According to a survey by CardMonitor, Sicredi recorded a 55% increase in transaction volume in the first quarter of 2025, compared to the same period last year, one of the highest percentage growth rates among card acquirers.

More information about Clover is available at Sicredi Card Machines.

This post originally appeared as a press release on the Sicredi webpage. Sicredi is World Council of Credit Unions' direct member organization in Brazil.