UnionBank’s fintech venture, DICT team up to accelerate gov’t’s digital transformation

UBX, the financial technology venture of Aboitiz-led Union Bank of the Philippines, and the Department of Information and Communications Technology (DICT) on Thursday launched a multi-sectoral initiative that aims to accelerate the digital transformation of the Philippine government.

At a press briefing in Pasig City, UBX introduced the Digital Transformation ng Pilipinas or DigiPinas initiative—a multi-stakeholder group composed of platforms, solutions providers, local government chiefs, policymakers, national government agency representatives, members of the academe, and people organizations.
 
The DigiPinas initiative intends to help the government in the development of technologies to digitalize government services and transactions.
 
The initiative will identify national government agencies and local government units that it can support through digital transformation, equipping each government partner with digital tools and solutions to bring their services closer to their constituents.
 
“Digital transformation is one of the leading thrusts of President Marcos and we have a long way to go to achieve a digital Philippines. We need the partnership from the private sector, working simultaneously with synergy to achieve that goal,” DICT Director Jose Reyes said. 
 
For his part, UBX president John Januszczak said that DigiPinas was the fintech’s “response to the call for an accelerated digital transformation in government to help bring essential and critical services closer to Filipinos.”
 
DigiPinas spokesperson Mikan Leachon said that members of the initiative will work on the digital transformation of government, supported by enabling laws, policies, and regulations, including Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act; RA 8792 or the Electronic Commerce Act; Executive Order 170 or the Adoption of Digital Payments for Disbursements and Collections; and the Bangko Sentral ng Pilipinas’ National Strategy for Financial Inclusion and Digital Payments Transformation Roadmap. 

?Leachon said that the Philippines is facing obstacles in achieving digital transformation, such as low digital adoption, lack of awareness, gaps in access, digital skills gap, and complex regulations. 

In particular, only 26% of micro, small, and medium enterprises (MSMEs) were aware of digitalization programs offered, according to UBX. 

Meanwhile, 32% of households in the National Capital Region had access to the internet, but only 5% had access in rural regions.

“Digitalizing government services will help reduce inequalities and inequities, as the Internet, as they say, is the greatest equalizer. But we are still far from the new digital world that we seek. DigiPinas takes a multi-stakeholder approach to address barriers and challenges and help hasten development not only in major cities and provinces but in rural towns and far-flung areas,” Leachon said. — VBL, GMA News