Money from the WFCU Ukrainian Credit Union Displacement Fund will help 78 credit unions digitalize services KYIV, UKRAINE (December 6, 2023) — Worldwide Foundation for Credit Unions (WFCU) , in partnership with the USAID/World Council of Credit Unions (WOCCU) Credit for Agriculture Producers (CAP) Project , this week launched a $200,000 digitalization program to help Ukrainian credit unions upgrade core banking systems and modernize services in an effort to improve member experience. 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. To support the crucial, but barely affordable digital transformation for credit unions in Ukraine, WFCU tapped its Ukrainian Credit Union Displacement Fund to disburse a $200,000 grant to help: 26 credit unions introduce a modern core banking system with Application Programming Interface (API) integration. 52 credit unions optimize operational processes with third-party providers (Anti-Money Laundering (AML) procedures, access to […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
