Sicoob Unicoob Partners with Plug and Play to accelerate the process of innovation and digital transformation of the cooperative financial system

São Paulo, September 13th, 2019 — Sicoob Unicoob, linked to Brazil largest cooperative financial system, has partnered with Plug and Play, the largest innovation platform in the world, based in Silicon Valley. The cooperative will be one of the founding partners of the company’s first office in Brazil, located in São Paulo (SP).

The participation in the accelerator will guarantee Sicoob Unicoob access to a network of large startups, which can help align internal processes and help bring more and better services to its members.

Sicoob Central Unicoob Director of Services and IT, Emerson Iten points out that on the Plug and Play accelerator, success stories such as PayPal, Dropbox, SoundHoud and Lending Club have started. Therefore, he believes the partnership will be instrumental in accelerating the process of innovation and digital transformation of the system, which currently consists of 18 affiliated cooperatives.

“We will be directly linked to the best startups in the world, we will explore important new opportunities. In addition, we will have the chance to closely monitor the innovation ecosystem of Brazil and Silicon Valley, identifying and applying cutting-edge solutions for our associates, ” he explains.

The idea of ​​the partnership between Sicoob Unicoob and Plug and Play came from the Innovation Committee, which was created in 2018, when the system defined its new strategic planning and stated its purpose of “humanizing financial relations”.

Formed by professionals who occupy leadership positions in cooperatives and Central, the group aims to discuss ideas and ways to innovate in financial cooperativism, seeking to change to increasingly delight the members.

For the Management Director of Sicoob Central Unicoob, Marcio de Souza Gonçalves, to innovate is necessary to study, know the environment and, above all, maintain dedication as part of the routine. According to him, practices such as encouraging people to suggest innovative changes, rewarding suggestions that are implemented or even partnering with startups are ways to make innovation a reality in organizations.

“Much more than the adoption of new technologies, we need to change the way we look at our business, our members, the market and offer everyone solutions that surprise and excite them. This is innovation. And that is what we are looking for with the partnership we have with Plug and Play, ”he says.

For the first year, Plug and Play Brazil will run two programs, one focused on Foodtech (food chain) and Agritechs (agribusiness) and the other on Fintechs (financial system), assisting startups in these segments worldwide to enter in these markets. The opening event of the accelerator’s headquarters, in São Paulo, will be on September 18th.

“The credit, financial and savings Cooperatives play a fundamental role in the local economies of the countries of Latin America, since they act as a vital means for saving and credit for a large number of people. The alliance between Sicoob Unicoob and Plug and Play, will allow innovation to become a powerful tool that enables the entity build more trustful relationships with its members” added Saeed Amidi, CEO and Founder of Plug and Play Tech Center.

With over 350 startups and 300 corporate partners in our technology accelerator, we have created the ultimate startup ecosystem.

With over 350 startups and 300 corporate partners in our technology accelerator, we have created the ultimate startup ecosystem.