PH SEC Invites Public to PhiliFintech Innovation Office’s Present Me Anything Session
The Philippines’ Securities and Exchange Commission (SEC) invites the public to the Present Me Anything (PMA) Session of the PhiliFintech Innovation Office.
The SEC states that policy responses, through its proactive role in encouraging and supporting Financial technology innovation in the Philippines, that promote innovation and mitigate the corresponding risks for investor protection and the integrity of the fintech industry can be initiated through the conduct of PMA Sessions wherein companies will be able to present/pitch ideas relative to their innovation or business models directly to the Innovation Office.
According to the PMA Guidelines, the procedure for the PMA Sessions are as follows:
- When requesting a PMA session with the Innovation Office, please complete the Request Form attached in these Guidelines and carefully read the criteria and disclaimer provided before submitting it.
- Please provide basic information about you and your business model or innovation, problems it seeks to address, its unique value proposition, among others.
At the time of the assessment, the Office will also consider whether the innovation does not easily fit with the existing regulatory frameworks.
- The PMA Request Form and other supporting documents must be sent directly to the PhiliFintech Innovation Office (email@example.com).
- Through the email address you have provided in the Request Form, the Innovation Office shall inform you if the request for a PMA session is granted, and/or if the Innovation Office needs additional information in order for the latter to decide on the said request.
- If you are eligible for the PMA session, the Innovation will subsequently schedule and share via email the invitation and zoom link details for your scheduled presentation.
Further, there are two (2) minimum criteria under the Guidelines: Novelty and Consumer Benefit.
For purposes of the PMA Sessions, an innovation is considered novel if it is new or significantly different from the existing products or services available in the market. Among others, the following will be considered at the time of the assessment:
- The conduct of a desk research will result in few or no similar innovations currently available in the market; and
- The level or degree of change to be introduced by the innovation as to how products or services are currently offered.
The innovation to be covered by the PMA sessions must offer an intended and identified benefit/s to consumers or clients e.g. higher quality customer experience, lowering of the price of products or services.
The guidelines for the Present Me Anything Session can be found here.