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Manila Bulletin devider Business devider SEC bags GCash award for digital transformation

SEC bags GCash award for digital transformation

Published Dec 8, 2023 07:25 am

The Securities and Exchange Commission (SEC) continues to gain recognition for the digitalization of its services, this time bagging the Excellence in Digital Transformation Award conferred by mobile payments service GCash.

The third installment of the GCash Digital Excellence Awards seeks to acknowledge partners of the company who have served as a catalyst for driving financial inclusivity in the country.

Emilio Aquino.jpeg
SEC Chairperson Emilio B. Aquino

“As we continue to embark on our digital transformation journey, we our guided by our desire to serve our stakeholders more efficiently and effectively,” SEC Chairperson Emilio B. Aquino said.

He added that, “this recognition from GCash, as well as the various awards we have received from both local and international organizations, tell us that we are headed in the right direction.”

The SEC started its digital transformation program at the height of the pandemic, guided by its Digital Transformation and Technology Modernization Roadmap under Aquino’s SuperVision 2028.

The roadmap sought to automate 26 key process of the SEC and establish a unified and integrated database for the Commission and its stakeholders.

The first wave of its digital transformation roadmap included the launch of the online company registration system called Electronic Simplified Processing of Application for Registration of Company (eSPARC) and its subsystem, One-day Submission and E-registration of Companies (OneSEC).

With eSPARC, the Philippines was recently recognized as having one of the best company registration systems in the world by the Corporate Registers Forum, an international body of corporate registries, during a conference in Malta in October.

Other digital services include the Electronic Filing and Submission Tool (eFAST) and the Electronic System for Payments to the SEC (eSPAYSEC).

In 2023, the SEC continued to demonstrate its commitment to digital transformation with the launch of five new advanced online systems to further streamline and simplify the Commission’s services.

These new digital initiatives include the Electronic SEC Universal Registration Environment (eSECURE), SEC CheckApp 2.0, Electronic SEC Education, Analysis, Research Computing Hub (eSEARCH), SEC API Marketplace, and the Electronic Registration Application for Market Participants (eRAMP).

Recently, Aquino was also named the first ever Public Sector Innovator during the 3rd Mansmith Innovation Awards, given by research and consultancy firm Mansmith and Fielders, Inc.

He was likewise named CEO of the Year for the Philippines during the 2022 International Data Corporation Future Enterprise Awards for leading the digital transformation of the SEC.

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