Colombia’s financial co-ops to receive expert support with digitisation

The digital acceleration programme will run for 13 weeks

Colombian financial co-ops can now apply for a digital acceleration programme to receive expert support on their digital transformation journey.

The Digilab Finance programme is run by the Bank of Opportunities and the International Finance Corporation (IFC) to help co-ops develop a digital strategy and transformation roadmap, with online workshops, conferences, sessions, training and advice.

Running for 13 weeks, it will explore topics such as trends, emerging tec; disruptive business models and innovation and alliances in open banking. Also under consideration are the work of customer-centric organisations, how operating models work in the digital context, and the role of governance in executing the transformation.

“This is a great opportunity for the sector, since the pandemic showed that digitization is essential to reach consumers with better and more effective services,” said Confecoop, the national co-operative confederation, in a release.

Freddy Castro, director of Banca de las Oportunidades, added: “Supporting the digital transformation of the solidarity sector is a way to broaden the digital culture and financial inclusion of the most vulnerable. In this way we continue to guarantee the construction of equity from the provision of financial services.”

Elizabeth Martínez de Marcano, IFC regional manager for the Andean Region, said: “Co-operatives contribute significantly to the dynamics of financial inclusion in Colombia. IFC is driving its digital transformation to help develop more innovative services, while contributing to a better understanding of how its partners have evolved and achieved greater scale.”

Applications close on 23 March.