The Bankers Association of the Philippines (BAP) and CIsco partners to strengthen the banking’s cybersecurity skills.
Cisco has provided cybersecurity training to the commercial banking sector through Cisco’s Country Digital Acceleration Program in the Philippines, UGNAYAN 2030.
Banking professionals across 13 banks have completed courses under this training program, developed by the Cisco Networking Academy.
The shift to digital for the banking sector and many others has rapidly expanded the threat landscape, with 8 in 10 (85%) 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 (CICC) has shown cybercrimes increasing by 152% and online scams 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 for advancing and expanding our cybersecurity workforce," said Zaza Soriano-Nicart, managing director, 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 securely navigate the digital landscape 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.”
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. Managers with technical roles associated with technology or cybersecurity enlisted in the Specialized Program, which includes courses on Network Security, CyberOps Associate and Cloud Security, and were encouraged to take the courses in the Beginners Program as a refresher.
“The importance of banks and financial institutions protecting consumer data and privacy is paramount in today’s digital era. With the evolving cyber threat landscape, banking professionals must be equipped with the knowledge and skillsets to prevent cybersecurity breaches and respond swiftly to threats. This partnership with Cisco enables us to provide them with strong cybersecurity skills, to not only safeguard institutions in the Philippines but also maintain the trust and confidence of customers,” said Benjamin P. Castillo, managing director, BAP.