WOCCU Launches Digital Transformation Lab
New online platform shares bold technological innovations for the credit union movement
April 29, 2019
MADISON, Wis.—World Council of Credit Unions (WOCCU) is proud to unveil our Digital Transformation Lab, a virtual platform that allows us to feature the very latest digital transformation components being used in our development projects worldwide—and to engage our members and partners to share their own experiences, so we can all learn from each other.
WOCCU thinks of the Digital Transformation Lab as a true hub for innovation. We are testing the latest technology for digital payments, digital lending—even digital identity. We are running up walls, falling down, and running right back up and over them.
In Ukraine—we are developing and testing digital tools to inform lending decisions and effective loan monitoring for select credit unions. We are also testing mobile apps in Kenya that allow financial cooperatives to better identify lending risks for small farmers.
In Asia, we are leveraging support from the Bill & Melinda Gates Foundation to pursue digital financial inclusion for over 50-million people through interoperable payment platforms that will connect credit unions across the continent—and ultimately the world—through the use of open-source software.
Credit unions, members and partners also are invited to connect with us and share their own experiences with digital transformation. Credit unions face unique, new challenges in the digital world and WOCCU is building tools, sharing knowledge and providing expertise to guide our global community in this exploration.
“World Council of Credit Unions has members in 118 countries on six continents whose credit unions reach expansively into rural and remote areas. Digital transformation is the key to making sure those credit unions continue to grow by reaching new members with the very latest technology. By interacting with our Digital Transformation Lab, our members and the credit unions they represent can learn about the latest innovations, vet them and even share their own experiences with digital transformation,” said Brian Branch, World Council of Credit Unions President and CEO. "The goal is to create 21st-century credit unions across the globe."
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.