Press

Webinar: Open banking – the opportunities and challenges facing credit unions

MADISON, WI (March 18, 2021) —

Wednesday, March 24, 4:00 p.m. U.S. Central Standard Time

Open Banking: what is it and what would it mean for credit unions? What drives this? By giving consumers ownership rights over their data, what does it imply in terms of allowing third-party providers to access the financial information of members? What does this mean for consumer options for managing their finances, borrowing money and making payments? And what are the risks of Open Banking? What does it mean for competition and account turnover, or for data security? What have been the experiences to date?

This World Council of Credit Unions virtual event will feature presentations from executives with three of the world’s largest credit union systems, who will discuss what is happening in their countries related to Open Banking and offer insights into the digital future. It is presented as part of Challenge 2025, World Council’s initiative to effectuate the digitization of the global credit union system by 2025.

The webinar will feature presentations from:

Michael Lawrence, CEO, Customer Owned Banking Association (COBA), Australia.

Lance Noggle, Senior Director of Advocacy and Senior Counsel for Payments and Cybersecurity, Credit Union National Association (CUNA), United States.

Patrick Barr, Policy Advisor – Open Banking, Canadian Credit Union Association (CCUA).

About World Council of Credit Unions

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 90 countries. Worldwide, 82,758 credit unions in 97 countries serve 404 million people. Learn more about World Council's impact around the world at www.woccu.org.