CIBP AUGMENTED COLLABORATIVE ECONOMY. A new way of thinking about Cooperatives.
CIBP and Dr. Fotis Filippopoulos (Shakesteer) have presented at the Woccu 2017 Conference, a novel business model for cooperatives banks and credit unions that combines C-commerce, digital platforms and IoT. For Monique Leroux, President of ICA, it can be relevant for cooperative movement in order to make an impact.
Augmented Collaborative Economy (ACE) represents a new way of thinking about Cooperatives. CIBP and Dr. Fotis Filippopoulous (Shakesteer) have worked together in order to explores the potential of a novel prototype model for cross-sector collaboration between Cooperative and Popular banks and other Cooperative enterprises, through digital platforms, Internet of Things (IoT), Collaborative Commerce (C-Commerce), to combine their capabilities and harness the power of cross-sector values networks.
The model is the result of a two steps analysis. In 2015, CIBP and Shakesteer presented the study “Designing Tomorrow's Popular and Cooperative Bank” with the aim to better understand how C&P banks work. The aim was to explore opportunities, address weaknesses and threats and overall to assess the efficacy and resilience of the current business model in a fast changing world under the “TVI (Total Value Innovation)” lens of analysis.
Following the results of this study, CIBP has identified, in concertation with its members, the key catalysts of change in the banking sector and launched a second study, GRACE16. It reflects the views of Coop C-suite and upper management leaders as well as of employees, members and customers across 110 Coop institutions from 18 industries in 47 countries.
In accordance to the axioms of GRACE16, ACE is hypothesised as a potentially novel model for cross-sector collaboration among Coops that combines C-commerce, digital platforms and potentially IoT in the mid and long-term to empower all Coop players to collect, synchronise and exchange data, co-develop and co-deliver novel or complementary superior value-added services, make better use of time and resources and combine their capabilities to harness the power of cross-sector value networks.
For Monique Leroux, President of ICA, who participated in the Breakout Session together with Mr. Marco Aurelio De Almada, President and CEO of Bancoob (Brazil) “It is important to realise that Coops are in an expansion period. Our business model has now moved to the new era. ACE is relevant for Cooperatives. We will be able to develop this kind of interconnection between the cooperative movements and make a significative impact in the world”.
Mr. De Almada “Cross sector collaboration is essential at local community level in order to bring together all the local actors. At Sicoob we are supporting startups to develop local business.”
Andrea Karner, CIBP Secretary General, “after two years of research linked to our member’s needs, I am very proud to present our studies at this outstanding event. I want to thank the WOCCU President Brain Branch for this opportunity. I want to thank all the CIBP members for supporting this research project and I hope that also other cooperatives will become part of this movement.”
