MADISON, Wis.–The World Council of Credit Unions will host a webinar this week on March 24, “Open Banking - the Opportunities and Challenges Facing Credit Unions.”
“Open Banking: what is it and what would it mean for credit unions? What drives this?” asked the World Council. “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?”
According to WOCCU, the 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 Presenters
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 with CUNA
- Patrick Barr, policy advisor – open banking, Canadian Credit Union Association (CCUA)
To register, go here.