Nextbank powers SIDC’s digital transformation

MANILA, Philippines — Nextbank, a digital banking platform for growing financial institutions, has partnered with Sorosoro Ibaba Development Cooperative (SIDC), the Philippines’ largest agricultural cooperative, to modernize its financial operations through Nextbank’s cloud-based Core Banking System (CBS).

The partnership marks a significant milestone in SIDC’s long-term digital transformation journey, with plans to adopt additional Nextbank solutions over time to further strengthen its financial services and enhance member experience.

 Founded in 1969, SIDC has grown into the country’s largest agricultural cooperative, serving 57,514 regular members and 24,027 associate members across its agriculture, financial services, retail and wholesale businesses.

 Under the partnership, SIDC will implement Nextbank’s CBS to streamline its banking operations and establish a scalable digital foundation that supports future growth. The cooperative also plans to expand its digital capabilities by adopting other Nextbank solutions, including mobile banking, electronic know-your-customer (eKYC) and digital payments.

 Designed for growing financial institutions, Nextbank’s integrated banking solutions enable organizations to modernize their operations, improve efficiency, and deliver secure, seamless financial services.

“We are honored to partner with SIDC as it embarks on the next phase of its digital transformation journey,” said James Allan To, president and chief commercial officer of Nextbank.

Ruben Celestial, chairperson of the Board of SIDC, said the partnership supports the cooperative’s commitment to continuously improving the services it provides to its members.

“Digital transformation is essential in enabling us to remain responsive to the evolving needs of our members. By modernizing our financial operations, we are strengthening our capacity to deliver accessible, efficient, and innovative services across the communities we serve,” he said.

For his part, Rico Geron, CEO of SIDC, said the partnership marks an important step in the cooperative’s broader digital transformation agenda.

“We see digital transformation as a long-term investment in our members and the future of our cooperative. Through our partnership with Nextbank, we are building the capabilities needed to deliver more accessible and responsive financial services while supporting our continued growth,” he said.