The Bankers Association of the Philippines and Cisco have partnered to provide cybersecurity training to the commercial banking sector through Cisco’s Country Digital Acceleration Program in the Philippines, UGNAYAN 2030. Banking professionals from 13 of the country’s leading banks completed courses under the training program developed by Cisco Networking Academy, one of the world’s longest-running IT skills-to-job programs.

The shift to digital for the banking sector and many others has rapidly expanded the threat landscape, with 8 in 10 (85 percent)[1] of security leaders in the Philippines believing cybersecurity incidents are likely to disrupt their businesses over the next year. Data from the Philippines Cybercrime Investigation and Coordinating Center has shown that cybercrime is increasing by 152 percent, and online scams are tripling from 2022 to 2023. This has led to the growing importance of cybersecurity education, awareness, and training for banking professionals.

“As cyber threats continue to escalate, so does the need to advance and expand our cybersecurity workforce,” said Zaza Soriano-Nicart, managing director at Cisco Philippines. “At Cisco, we recognize the urgency of this demand and remain committed to empowering those in the financial services sector with the knowledge and skills to navigate the digital landscape securely and improve cybersecurity resilience. We are honored to collaborate with BAP on this vital initiative and continue to provide banking professionals with the necessary skills of tomorrow.”

Growing implications of cyberattacks

The “Cisco-BAP Cybersecurity Skills Training Program for the Next Generation Banker” is a dedicated initiative that institutionalizes cybersecurity training for banking professionals. Delivered in partnership with Mapua University through a mix of self-paced, in-person, and virtual classes on Webex, the program is designed to equip participants with a comprehensive understanding of security standards and best practices to secure their organizations. It also seeks to expand the pool of cybersecurity professionals to fill vacancies in member banks and bolster the industry.

Professionals from member banks participated in one of two pathways. Banking professionals with management responsibilities, regardless of role or department, underwent the Beginners Program, which includes courses on Introduction to Cybersecurity and Cybersecurity Essentials.