The first-ever digital cooperative summit, aimed at empowering cooperatives through technology, was launched at the inaugural Philippine FinTech Festival (PFF), the regional conference where key technology enablers gathered to discuss the issues, challenges, and best practices in creating an innovative digital system for the cooperative sector.
Leading the summit was digiCOOP, the country’s first and only technological service cooperative that is revolutionizing the Philippine cooperative sector by providing an online platform that extends financial inclusion to its members. Partnering with it was Digital Pilipinas, the convenor of PFF and the largest private sector movement creating a technology and innovation ecosystem geared to bring about technological acceleration in the country.
In his keynote speech, Department of Information and Communications Technology (DICT) Undersecretary David Almirol, Jr. stressed the crucial role of embracing technological tools to empower key agencies in the economy.
“As we join our hands together, there will be more unity in doing business,” said Almirol.
digiCOOP President and CEO Ann Cuisia noted that while the cooperatives’ digital transformation has been progressing slowly, she hopes for an increase in adoption.
“It’s never too late for this country to have a mainstream Filipino cooperative movement,” said Cuisia.
The cooperative is a vital economic player in the grassroots movement. As of 2020, the Cooperative Development Authority reported that there are over 11,000 operating cooperatives and 11.5 million co-op members.
According to digiCOOP, cooperatives can maximize revenue through the use of smart technology and forge the power of their digital assets.
“We established digiCOOP as a platform for cooperatives where they can exchange services with other member cooperatives, essentially building their members’ wealth through participation in a lively ecosystem,” said Cuisia.
“Undoubtedly, the future is cross-border. The goal of Digital Pilipinas’ partnership with digiCOOP is to put the Philippine cooperatives side-by-side with other global best practices,” said Amor Maclang, the convenor of PFF and Digital Pilipinas.
