THE globe

CU News From Around the Planet

SEOUL, South Korea–Under pressure to adopt an open banking system, South Korea's financial industry said it plans to move forward with a general-use digital financial transaction protocol this year so fintech  companies can share financial data and build innovative business models.

MADISON, Wis.—In follow-up to a meeting between the Basel Committee on Banking Supervision and representatives of the World Council of Credit Unions, WOCCU has written to the Committee seeking further guidance on “when less-complex regulatory approaches can be warranted for credit unions.”