Our era is all about technology. From leading brands to small businesses, making transactions, communication and shopping, healthcare, studying, banking, constructions, and many more. Who wants to get left behind though?
I saw this blog article about welcoming a digital platform to their cooperative branch that’ll help their members access and transact in the most convenient way. They also quoted that this software is like “Facebook for cooperatives.” I was fascinated to know that there’s a huge number of brains and tech in the Philippines that we might not hear from the international news, or from the biggest names of news television or tabloids but are silently proving their brand stability and product services.
Launched in 2020, The 1 Cooperative Insurance System of the Philippines Life and General Insurance (1CISP) and TraXion Tech engaged to develop the digiCOOP, a digital cooperative platform made among member cooperatives to extend financial inclusion to their members.
Traxion Tech is a systems integration company specializing in transaction management systems with the latest technology. From a roll-up of several startups since 2015, they have been and still are providing quality products such as Parasure, Baiyarin, TraxionPay, and KaPartner. The 1CISP is one of the eleven members under ICA from the Philippines.
What is digiCOOP.ph’s mission?
The platform unites and serves members with the latest technology and digital experience enabling members to build their own wealth, participate in a lively ecosystem and pass on the co-op legacy to the next-adept generation. Also, as it is the new norm, they wanted the members to experience the most convenient way during this pandemic.
What services do they offer?
- Payment Gateway
- Insurance Connect
- Billers Portal
- Core Banking System
- Cooperative Management System
- Credit Scoring
A Brief History of the platform cooperative
After a year, Traxion launched the platform cooperative called digiCOOP and has onboarded 100 cooperatives in just 10 days and has partnered with different institutions and service providers to extend the value and services to the co-ops. digiCOOP along with the leading primaries and cooperative federations decided to form the first tech federation. With the aim of extending more services to the cooperatives and their members. Thus, digiCOOP Technology Services Federation was born.
In the Philippines, Cooperatives have been seen for a long time as important economic actors. In statistics as of the year 2020, there are 18, 065 numbers of cooperatives in the Philippines. 10.7 million members (10% of the population), 580, 800 direct and 1.9 million indirect employees in cooperatives.
The Cooperative Development Authority (CDA) defines cooperatives as a voluntary organization of people who have agreed to pool their resources together in order to undertake an economic enterprise for the purpose of meeting their common needs, and which they themselves democratically manage and control, and share the economic benefits on the basis of participation and patronage.
You can download their apps and check out more through their official website at https://digicoop.ph/
Official website of digiCOOP
Official Facebook Page @digiCOOP.ph