PALO ALTO, Calif. (9/12/12)--The World Council of Credit Unions (WOCCU) and Boom Financial have partnered to provide Boom mobile-banking services via credit unions in the developing world.
As the global trade association and development agency for 51,000 credit unions serving 196 million people globally, WOCCU will act as a broker, technical consultant and software payments solution to lead Boom Financial's expansion into new countries. Boom Financial will tap into WOCCU's established national credit union networks globally, laying the foundation for Boom to expand and deliver its service to underserved populations.
Boom Financial's money-sharing service allows credit unions to expand their geographic footprint and membership base beyond the standard service area of each branch location.
"Boom Financial shares World Council's vision of expanding financial inclusion through mobile technology and has the resources and people necessary to make it happen," said Brian Branch, WOCCU president/CEO. "We look forward to growing our partnership with Boom Financial to reach an even wider global community."
"Boom Financial and the World Council share common values and a deep passion to provide financial access to all," said Bill Barhydt, CEO of Boom Financial. The partnership will entrench Boom in new cross-border mobile banking. "Combining Boom's mobile-banking infrastructure with WOCCU's decades of experience in providing high-quality international financial services will become a key component of Boom's scaling strategy."