The World Council of Credit Unions (Woccu) is expanding its Hub C Innovation-as-a-Service online marketplace to credit unions in Latin America and the Caribbean.
The scheme was launched in January to serve credit unions affiliated with the Asociación de Instituciones Rurales de Ahorro y Crédito, Inc. (AIRAC), Woccu’s direct member in the Dominican Republic.
The online marketplace enables credit unions to test potential solutions for automating their processes and offering digital services, without having to make changes to their core banking systems. According to Woccu, the marketplace allows credit unions to experiment and test those solutions to find the right fintech provider.
“We are excited about the potential of the Hub C platform to connect credit unions to fintech solutions and move toward robust, cyber-ready and agile systems that allow them offer digital lending, AI-enabled customer engagement and other products services to their members,” said Angelina Tracy, Woccu VP of strategic growth and partnerships. “We are seeking the next cohort of credit union champions in the LAC region to come on the digital transformation journey with us.”
Woccu is advising credit unions in Latin America and the Caribbean that are interested in using the marketplace to reach out to its team at hubc@woccu.org by 22 March. A limited number of credit unions will be enrolled on the next cohort to use Hub C is limited.
The initiative forms part of a series of actions Woccu is taking to meet its target to digitise the global credit union system by 2025, known as Challenge 2025.
