BAP partners with Cisco to Strengthen Cybersecurity Skills in the Philippines’ Banking Sector

Through Cisco’s Country Digital Acceleration Program in the Philippines, UGNAYAN 2030, the Bankers Association of the Philippines (BAP) and Cisco, a global leader in technology, have teamed up to offer cybersecurity training to the commercial banking sector.

One of the longest-running IT skills-to-job programs in the world, Cisco Networking Academy, created a training curriculum that banking professionals from 13 of the top institutions in the nation completed.

The threat landscape has rapidly expanded as a result of the banking industry’s and many other industries’ migration to digital.

According to eight out of ten (85%) security leaders in the Philippines, cybersecurity incidents will probably impair their operations during the next year.

According to data from the Philippines Cybercrime Investigation and Coordinating Center (CICC), from 2022 and 2023, cybercrimes increased by 152%, while internet scams tripled.

As a result, cybersecurity awareness, education, and training are becoming increasingly crucial for banking staff.

“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.” 

An effort to institutionalize cybersecurity training for banking professionals is called the “Cisco-BAP Cybersecurity Skills Training Program for the Next Generation Banker.” The program is intended to give participants a thorough grasp of security standards and best practices to secure their companies. It is being delivered in collaboration with Mapua University and consists of a combination of self-paced, in-person, and virtual classes using Webex. In order to support the industry and fill positions in member banks, it also aims to increase the number of cybersecurity experts in the field.

Two avenues were available for participation by professionals from member banks. Regardless of department or job, banking professionals with management responsibilities completed the Beginners Program, which includes Introduction to Cybersecurity and Cybersecurity Essentials training. The Specialized Program, which offers courses on network security, cyberops associate, and cloud security, was enrolled by managers in technical responsibilities related to technology or cybersecurity. They were also urged to complete the Beginners Program courses as a refresher.