DFIC Created to Accelerate CUsâ€™ Ability to Offer Digital Financial Services
- Date : Wednesday September 23, 2020
- Venue : Nonthaburi
The Board of Directors, in its September 23, 2020 meeting approved the creation of the Digital Finance and Infrastructure Committee (DIFC) along with its mandate.
In effect, the DIFC will be one of the committees that provide unbiased technical study and roadmap to the technology development for the Asian credit unions system.
ACCU has been spearheading efforts to help its members digitize to enable CUs to better serve existing members and expand their reach to new members. ACCU members are operating in an environment of great technological change.
Throughout Asia, financial and payment landscapes are rapidly modernizing, with evolving customer needs and several new emerging technologies, payment methods, and actors. Users demand faster, low-cost, and convenient services while businesses demand information-rich payments services.
Given its activities to accelerate CUs’ ability to offer digital financial services to their members, ACCU is forming a DIFC to streamline management of these digitization initiatives.
The DFIC has four expected outcomes as part of its mandate:
1. Modernize – Modernize CUs’ core payment systems, including the policies
and rules governing their use, as well as the technology infrastructure
2. Manage – Maintain existing operations to meet local and international
standards of safety, efficiency, and effectiveness
3. Enhance – Continuously enhance and improve processes, organizational
capacity, and services to meet evolving end-user needs
4. Collaborate – Collaborate and partner with internal and external participants
and stakeholders to increase the utility and reach of CU services nationally
The members of the committee are composed of the CEOs, officers, and leaders who represent all three levels – primary, the national federation, and ACCU.