news.cuna.org/articles/119249-cunas-noggle-to-talk-open-banking-at-world-council-webinar
Online

CUNA’s Noggle to talk Open Banking at World Council webinar

March 24, 2021

CUNA’s Senior Director of Advocacy and Counsel Lance Noggle will participate in a World Council of Credit Unions webinar Wednesday. Registration is now open for the webinar, “Open Banking - the Opportunities and Challenges Facing Credit Unions,” scheduled to begin at 5 p.m. (ET).

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.

Questions that will be addressed include:

  • What is Open Banking and what would it mean for credit unions?
  • 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?
  • 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?