Out in the Open: Croí Laighean Credit Union's Transformation Through Open Banking APIs

How a small Irish credit union is showing that Open Banking APIs aren’t just for big banks—success lies in the right partners

By Marcia Klingensmith, the Instant Payments Maven™

Across the U.S. and abroad, the financial world is waking up to a new reality: secure, Open Banking APIs are no longer optional. It’s foundational.

In Europe, open banking has been a regulatory mandate since PSD2 took effect in 2018. In the U.S., the baton has officially passed to Dodd-Frank Section 1033. Finalized by the CFPB in late 2024, it gives consumers the legal right to access and share their financial data securely via Open Banking APIs – replacing risky screen scraping with tokenized trust.

Yet amid broader regulatory rollbacks, some are asking: Could 1033 be repealed like other CFPB rules?

Maybe. But forward-looking credit unions aren’t waiting. Because open APIs aren’t just a compliance checkbox—they’re about member trust, improving security, and delivering the real-time experiences members already expect.

Take Croí Laighean Credit Union in Ireland. Even though they aren’t required to comply with DORA until 2028, they’re already aligning ahead of schedule by integrating Open Banking APIs and cloud-native technology. The result? More agility, stronger vendor integrations, lower costs, and faster service delivery.

As U.S. institutions face their own crossroads on open banking, Croí Laighean offers a compelling case study: Don't wait for a mandate. Move because it makes your institution better, more secure, and stronger.

For context: I was introduced to Bernard Hunter, Head of Risk at Croí Laighean CU, while

Bernard Hunter

preparing for my EDGE25 keynote. His story quickly became a standout example of how a small, rural credit union can punch well above its weight when it comes to APIs and modernization.

During our fireside chat, Bernard’s story resonated deeply with credit union leaders in the room – and for good reason. Croí Laighean is living proof: You don’t have to be big to move fast. You just need the right mindset – and the right partners.

“It’s like a heart transplant.”

That’s how Bernard described Croí Laighean’s move to a cloud-native core system—and he’s not exaggerating. As Risk Management Officer, he’s helping lead one of the most forward-looking transformations in Irish credit union history: migrating from legacy infrastructure to a fully API-enabled platform with Temenos, aligning with DORA, and delivering real-time member experiences.

Romance Meets Risk Management

Marcia: Bernard,  Ireland is rich with history. I loved the “romantic” origin story you shared at Edge25. Can you tell it again for those who missed it?

Bernard: Absolutely. Croí Laighean is the result of three smaller credit unions coming together Edenderry Credit Union (Éadan Doire, meaning 'hill-brow of the oak wood') Coill Dubh Credit Union (Black Wood) and Leixlip and District Credit Union (Leixlip is old Norse for salmon's leaping place, the name given to the area by Vikings when they established a settlement on the river Liffey). When we merged, we chose the name “Croí Laighean” which means “Heart of Leinster”, a nod to our shared values and regional roots. We believed we could do more—together—for our members. That collaborative spirit laid the groundwork for our digital journey. We weren’t just merging systems—we were merging missions. And in 2015, we committed to a strategic plan to become a truly digital-first credit union.

From Legacy to Cloud

Marcia: You’ll be the first CU in Ireland to go fully cloud-based with Temenos. Why make that leap?

Bernard: Our legacy system couldn’t support our vision. We needed an infrastructure that let us connect with modern APIs and fintech partners. Moving to the cloud wasn’t just an upgrade—it was essential. Think of APIs as a digital shopping list. On our old system, we were stuck in the supermarket with no cart. Now, we can pick what we need—fraud tools, lending integrations, digital ID—and plug them in.

Open Banking + DORA: Compliance That Drives Innovation

Marcia: You’re aligning with DORA and other EU regulations ahead of schedule. Any lessons for U.S. credit unions watching from across the pond?

Bernard:  Absolutely. Don’t wait. DORA may not hit smaller institutions until 2028, but by aligning early, we’ve improved resilience and gained board support for innovation. When partnering with fintechs, choose those that fill a gap—not ones that replicate what you already do. Be curious. Evaluate broadly. Then go deep with the right one.

The Open Banking API Use Cases That Matter

Marcia:  Let’s talk tactics. What API-enabled services are making a real difference for your members?

Bernard: We’ve established great relationships with our technology partners, and found they’ve been pretty responsive to our needs:

• CRIF: We’re integrating CRIF with Temenos to handle onboarding and AML.

• ID-Pal: This digital ID tool allows us to complete KYC and fraud checks instantly.

• ViClarity: We use this  for  risk  and compliance oversight—essentially moving risk management from retrospective to predictive. Our risk team will get data in real time instead of manually pulling it from PDFs.

The Results? Measurable.

Marcia:  And how do you see this impacting your day-to-day operations?

Bernard: We’ve cut our Member onboarding time by 90% with the introduction of digital onboarding through ID-Pal and we hope to reduce loan approval times from days to 30 minutes. Fraud attempts using fake documents? Drastically reduced. We’re saving around €300,000 a year in operational costs. And we’ve added 2,500 members annually. That’s not just innovation—it’s growth with impact.

Even our board meetings are smoother. Instead of manually compiling reports, directors will be able to now access dashboards that pull directly from the core. That’s what real-time means—transparency, speed, and trust.

One Step at a Time

Marcia:  What advice do you have for credit unions just starting this journey?

Bernard: Start with one use case that’s visible. Something your board and staff will feel and appreciate. Partner with a fintech that understands both your tech and your mission. And don’t be intimidated—none of this is rocket science. We’re all learning. You just need the right mindset and a willingness to begin.

The Takeaway

Croí Laighean’s transformation wasn’t about flashy tech. It was about staying relevant, resilient, and rooted in member service. Bernard’s story offers a roadmap for credit unions anywhere—whether in Dublin or Des Moines.

As Open Banking APIs and instant payments converge, Bernard’s message is clear:

Don’t just digitize. Differentiate.

Want to explore your first API use case or compare fintech partners?

Grab my Dodd-Frank 1033 Toolkit [https://fintech-consultant.kit.com/doddfrank1033toolkit] and Let’s talk. I help credit unions decode complexity and lead with confidence.

Until next time, keep decoding the future of member-first finance. – The Instant Payments Maven™

About the Author

Marcia Klingensmith, known globally as the “Instant Payments Maven”, CEO of FinTech Consulting, has a passion for payments modernization and over 20 years of experience bringing innovative products and services to market at Fortune 500 companies like Bank of America, Wells Fargo, Visa, LexisNexis Risk Solutions, and FIS Global.
 

Marcia is a recognized expert in instant payments, payments modernization, and ISO 20022 strategies. She helps financial institutions and fintechs navigate the evolving world of payments through strategy workshops, process reviews, and sales enablement, integrating AI capabilities to optimize processes and drive innovation. Her expertise spans banking transformation, cross-border transactions, and the future of money. Marcia helps clients achieve tangible results, driving revenue growth and operational efficiency in the evolving payments landscape.

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