The digital rollout coincides with the observance of Ease of Doing Business Month, as mandated by Proclamation No. 818, reinforcing the government's commitment to digital governance and public service innovation.
Faster, safer and more efficient services
The new platforms are the Hierarchical and Applicable Relations and Beneficial Ownership Registry (Harbor), Verification of Electronic Records and Information Trust and Authentication System (Veritas), Electronic Exceptional and Alternative Submission Environment (EASE), Electronic Workbench and Analytics Technical Computing Hub (eWatch), Document Management System (DMS), and Workflow Management System (WMS).
“These new systems reflect our commitment to innovation and our support for President Marcos’ digitalization thrust. They allow the SEC to deliver faster, safer, and more efficient services while aligning with global regulatory standards,” SEC Chair Emilio B. Aquino said in a statement.
Harbor will streamline beneficial ownership disclosures, improving transparency and helping prevent the misuse of corporations for illicit activities, a key goal in avoiding the grey list of the Financial Action Task Force.
Veritas, using blockchain technology, enables real-time multi-party authentication of corporate documents such as board resolutions and compliance reports. EASE serves as an alternative platform for corporations under dispute status, allowing continued compliance through annual report submissions.
Promoting corporate accountability
To bolster compliance, eWatch will notify corporations of reportorial deadlines and flag delays or non-submissions, helping to reduce penalties and promote corporate accountability.
Meanwhile, DMS and WMS focus on internal efficiency. DMS enhances document traceability and ensures secure access across SEC offices, while WMS allows departments to customize workflows for document approvals, compliance checks, and inter-agency coordination.
Quicker data processing, stronger cybersecurity infra
Supporting these tools is the newly inaugurated SEC Data Center, designed to house critical systems and data in a secure, scalable environment. The facility promises improved uptime, faster data processing, and stronger cybersecurity infrastructure.
“With our in-house data center and suite of digital tools, we’re paving the way for quicker transactions, better service access, and a more responsive regulatory environment,” Aquino said.
While the fourth wave of the SEC’s digital transformation focuses on strengthening infrastructure and internal processes, the first three waves concentrated on digitizing core services, expanding access and sustainability efforts, and enhancing efficiency and compliance. —Ed: Corrie S. Narisma
