The national flag of Ukraine. (Source: AdobeStock) The Worldwide Foundation for Credit Unions (WFCU), in partnership with WOCCU’s Credit for Agriculture Producers (CAP) Project and USAID, announced the launch of a new $200,000 grant program to fund Ukrainian credit unions efforts to upgrade the country’s core banking systems and modernize services for its members. According to the launch announcement Dec. 6, “Financial institutions must be able to provide online and mobile banking services to be competitive, but a lack of such services at Ukrainian credit unions negatively impacted their performance throughout the COVID-19 pandemic and during the first few months of Russia’s full-scale invasion of Ukraine. Low digitalization levels also prohibit these credit unions from attracting younger Ukrainians seeking modern financial services, which contributes to an increasingly aging membership.” WFCU officials said it is using $200,000 from the Ukrainian Credit Union Displacement Fund, set up just days after Russia invaded the country, to support the following: 26 credit unions introducing a modern core banking system with Application Programming Interface (API) integration. 52 credit unions optimizing operational processes with third-party providers (Anti-Money Laundering (AML) procedures, access to credit bureaus and key databases). In all, the 78 Ukrainian credit unions will […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
