THE National Confederation of Cooperatives (NATCCO) has inked a P2 million, two-year contract with innovative Philippine startup trust services Twala to modernize operations and improve member services using innovative digital solutions.
The electronic signing of the contract came at the end of the inaugural Billionaire Co-ops’ Summit 2023, which was held at the Eastwood Richmonde Hotel and attended by more than 40 billionaire cooperatives, or those with assets totaling at least one billion pesos each.
The NATCCO-Twala agreement heralds a new stage of financial and social inclusion within the cooperative sector through the digitalization of paper-based workflows.
Aside from services contract, NATCCO likewise signed a two-year subscription with Twala to utilize their document automation solutions, further enhancing their stakeholder services.
NATCCO is a leading organization dedicated to advancing the cooperative movement in the Philippines. With a mission to empower and unite cooperatives, NATCCO plays a pivotal role in fostering cooperative growth, sustainability, and socioeconomic progress.
Twala is a DOST-backed digital signature and digital identity platform that empowers organizations through its innovative trust services. With its robust technology and commitment to innovation, Twala offers user-friendly and legally compliant digital signature and identity solutions for businesses across various industries.
With the signing of the deal, NATCCO is now the exclusive distributor of Twala’s advanced products and services to its member cooperatives nationwide.
On the other hand, the agreement allows Twala to pursue its mission to help unlock billions of pesos tied to inefficient paper-based processes.
Guided by the theme “Builders of Sustainable Sector and Country,” NATCCO’s summit provided the stage to electronically sign the partnership between NATCCO, a leading organization advancing cooperative movement in the Philippines, and Twala, an award-winning startup.
During the summit, lawyer Herminio “Third” Bagro, Twala’s co-founder and general counsel, shared the legal framework surrounding the use of electronic and digital signatures in the country, and how these can reshape cooperative operations and promote their growth.
“The Philippines has sufficient legal and administrative rules and issuances that recognize electronic and digital signatures as equivalent to wet signatures,” Bagro said.
He added that the partnership with NATCCO bolsters Twala’s role in the cooperative movement’s evolution into the digital age.
“With a robust technology framework and commitment to innovation, Twala delivers user-friendly and legally compliant digital signature and identity solutions. The embrace of digital tools is set to heighten efficiency, curtail costs, and fortify security in online transactions, thus catalyzing both cooperative growth and societal advancement,” Bagro said.
Engineer Sylvia Paraguya, chief executive officer of NATCCO, said: “The partnership with Twala marks a turning point in our cooperative movement. This alliance brings together the expertise of NATCCO and the innovation of Twala to empower cooperatives with the tools they need to excel in today’s digital age. Together, we’re building a stronger, more sustainable future.”
