‘Clear opportunity’ for credit unions in shrunken bank market

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Some 82% of consumers said they feared a lack of competition after Ulster and KBC exits

It comes ahead of the launch on Monday of Metamo’s Quantum AI open banking system, which is integrated into each of the 16 credit unions, allowing borrowers to get loan approval remotely from home.

“Credit unions are a vital and trusted pillar of their communities, but many are challenged to bridge the gap to compete with other financial services “Credit unions have an opportunity to play a greater role in the banking ecosystem. However, they must innovate to meet consumer needs.”

 

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