Platform targets 50% financial inclusion for Filipino families within five years
A Philippine-based online platform for cooperatives is teaming up with a Singapore tech firm to bring digital banking to 1.3 million workers and farmers.
DigiCOOP announced the partnership with ADVANCE.AI on Monday. The collaboration aims to dramatically expand financial access in a country where only 20% of families have bank accounts.
“Our goal is to reduce systemic inefficiency and lack of financial inclusion,” said Ann Cuisia, CEO of TraXion Tech, digiCOOP’s founder (in featured photo). The platform targets boosting banked Filipino families to at least 50% within five years.
DigiCOOP is a Filipino-developed digital platform that empowers cooperatives by providing mobile banking, e-wallet services, loan processing, e-commerce, remittance, and management tools—all designed to modernize operations, connect members, and strengthen the cooperative movement in the Philippines.
In 2022, DigiCOOP Technology Service Cooperative (DTSC) was given a special type of cooperative license by the Cooperative Development Authority (CDA), achieving the milestone of becoming the very first technology service cooperative in the Philippines.
Under the partnership, ADVANCE.AI will provide digital identity verification technology. The system can remotely verify users by scanning national ID documents and matching them with selfies. The process takes under 60 seconds.
Michael Calma, ADVANCE.AI’s Philippines country manager, said the partnership advances accessibility for grassroots communities. “All they need to join the digiCOOP platform is a national identity document and an internet connection,” he said.
The platform offers loan applications, credit scoring, digital banking, insurance and investment services. It also provides bill payment and e-learning opportunities.
DigiCOOP is registered with the Cooperative Development Authority. Its mission centers on uniting member cooperatives through an ecosystem of digital and financial products.
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