SECP engages industry on its Digital Transformation journey

November 26, 2019: The Securities and Exchange Commission of Pakistan (SECP) held Design Thinking Workshop in Lahore as part of its Digital Transformation journey called LEAP. The workshop was conducted in collaboration with Oracle. Leading Efficiency through Automation Prowess (LEAP) is the SECP's project for end-to-end process automation and digital transformation.

Design thinking is a problem-solving framework that is rooted in empathy and understanding of the customer that you are solving the problem for. Companies that have embraced design thinking to put customers at the heart of product and service design have subsequently gained a reputation for disrupting markets, delivering superior customer experiences and achieving strong business results.

“Design thinking is an essential mindset to build empathy with users, really listen and walk in their shoes”, said Abdul Rahim Ahmad, Chief Information Officer, SECP. He stressed the importance of ‘voice of the customer' and how their contributions during the design workshop will help the SECP better address end-users' needs.

Jakub Polec from Oracle Dubai and Asif Saleem from Oracle Singapore facilitated the workshop with interactive activities designed to frame the problems and ideation of the possible solutions. Design Thinking is transforming the way leading companies to create value. The focus of innovation has shifted from being engineering-driven to design-driven, from product-centric to customer-centric, and from marketing-focused to user-experience-focused.

The primary objective of this initiative is to encourage greater collaboration with regulatees by involving them in decision-making, policy setting, problem-solving and the co-design of services. This initiative will boost communication between SECP and its regulatees while providing them with a broader range of convenience enhancing digital services.

A large number of stakeholders from the business community, information technology experts, incubation centres and the SECP's officials attended the workshop. The participants discussed various scenarios about how the SECP could directly engage with its end-users through digital technologies. They talked about the latest trends in the field of information technology, discussed challenges, and shared their ideas to facilitate investment and businesses.