CU News From Around the Planet
LONDON–One fintech here that plans to partner with a credit union has been selected as a finalist in the government-sponsored “Affordable Credit Challenge,” a £1.5 million challenge that seeks to encourage U.K, fintechs and community lenders to work together in order to access alternatives to high-cost short-term credit.
REGINA, Saskatchewan–Conexus Credit Union here is reporting its Conexus Venture Capital Fund, which it launched earlier this year, has hit its $30 million fund target.
MADISON, Wis.–The World Council of Credit Unions and the Worldwide Foundation is inviting CU leaders to participate in a study of the Brazilian credit union system,
LONDON—Machine learning is being used with increasing frequency by financial institutions in the U.K., according to a joint report from the Bank of England and Financial Conduct Authority.
LONDON – A mandatory 24-hour delay on all first-time payments from one bank account to another would cut mounting fraud in finance, U.K. lawmakers said in a new report.
BEIJING, China—China’s congress has passed a cryptography law it says is designed to promote crypto development and ensure sound cybersecurity, reports indicate.
ACCRA, Ghana—Two members of the World Council of Credit Unions’ board have made history by becoming the first WOCCU board members to ever visit Ghana, the West African nation that is home to nearly 600 credit unions.
MONTREAL, Canada–The massive 2018 data breach last year at Desjardins credit unions has turned out to be bigger than originally thought, affecting all 4.2 million of its members, according to the organization.
LONDON—Four U.S. regulators have joined the Global Financial Innovation Network, an international alliance of government regulators led by the U.K.’s Financial Conduct Authority seeking to bolster the future of fintech.
LONDON—Machine learning (ML) tools are now in use at two-thirds of U.K. financial institutions, with the technology entering a new phase of maturity and more advanced stages of deployment, according to a survey conducted by the Bank of England.
