{"id":54884,"date":"2023-03-28T12:10:55","date_gmt":"2023-03-28T04:10:55","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=54884"},"modified":"2023-03-28T12:10:58","modified_gmt":"2023-03-28T04:10:58","slug":"digicoop-partners-with-advance-ai-to-boost-digital-financial-inclusion-in-ph","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2023\/03\/28\/digicoop-partners-with-advance-ai-to-boost-digital-financial-inclusion-in-ph\/","title":{"rendered":"DigiCOOP partners with ADVANCE.AI to boost digital, financial inclusion in PH"},"content":{"rendered":"\n

DigiCOOP<\/a>, the largest online platform for cooperatives and labor unions in the Philippines, announced a partnership with Singapore-based tech startup\u00a0ADVANCE.AI<\/a>\u00a0to power the provision of digital and financial services for its 1.3 million labor union workers and farmers on its platform.
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Launched in 2020 during the Philippines\u2019 Enhanced Community Quarantine (ECQ), digiCOOP already has 12 federations and 100+ cooperatives using its digital platform. It has also integrated over 400 brick-and-mortar co-op branches into its web channel.\u00a0 Registered with the Cooperative Development Authority (CDA), digiCOOP\u2019s aim is to unite and serve member cooperatives with an ecosystem of digital and financial products and services. Aggregated services offered on its platform include loan application, credit scoring, digital banking, insurance and investment, bill and online payment services as well as e-learning opportunities. \u00a0

ADVANCE.AI\u00a0specialises in digital identity verification to power smooth and seamless customer onboarding. In the Philippines for example, it can remotely onboard and verify a real user\u2019s identity by scanning a range of national identity documents, such as the Philippines\u2019 passport, UMID, SSS and TIN, and matching the image with a selfie taken with the phone\u2019s camera. All this can be completed in under 60 seconds. Other services it provides include fraud and risk management, as well as alternative credit scoring services.

Ann Cuisia,\u00a0CEO of TraXion Tech, the founder and creator of digiCOOP,\u00a0said, \u201cOur goal is to reduce systemic inefficiency and lack of financial inclusion by increasing the 20% banked Filipino families to at least 50% within five years. Our partnership with\u00a0ADVANCE.AI\u00a0and their expertise in digitally onboarding customers through seamless and secure digital identity verification supports our vision of enabling unbanked and underserved Filipino segments of society to build their own wealth, participate in a lively digital and financial ecosystem and pass on the coop legacy to the next tech-adept generation.\u201d

\u200bMichael Calma, Philippines Country Manager of\u00a0ADVANCE.AI, said, \u201cEconomic advancement for the grassroots and union workers can only happen by increasing trust and confidence in the use of digital technology. As a Filipino, I\u2019m very\u00a0excited about this partnership and advancing digiCOOP\u2019s mission of digital as well as financial accessibility and sustainability for the grassroots.\u00a0Nowadays, the traditional customer onboarding process is simple, secure and can be completed entirely on their mobile phone. All they need to join the digiCOOP platform is a national identity document and an internet connection.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

DigiCOOP, the largest online platform for cooperatives and labor unions in the Philippines, announced a partnership with Singapore-based tech startup\u00a0ADVANCE.AI\u00a0to power the provision of digital and financial services for its 1.3 million labor union workers and farmers on its platform.<\/p>\n","protected":false},"author":6,"featured_media":54885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[96,2727,1656],"class_list":["post-54884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-technology","tag-technology-adaption","tag-technology-investment"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/54884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=54884"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/54884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/54885"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=54884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=54884"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=54884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}