- Bank of the Philippine Islands (BPI) and Digital Pilipinas launched the TrustTech Movement to enhance cybersecurity in the country.
- The movement began with the TrustTech Conference, which featured discussions on emerging trends in cybersecurity and consumer protection.
- TrustTech aims to advocate for a whole-of-nation approach to combat cyber scams, promote public education, and implement business/consumer protection policies.
To further improve cybersecurity in the country, the Bank of the Philippine Islands (BPI) along with Digital Pilipinas launched the TrustTech Movement. The campaign’s primary objective is to foster confidence among both individuals and businesses in the Philippine digital realm.
The movement commenced with its first event, the TrustTech Conference: Emerging Trends in Cybersecurity and Consumer Protection, which was held on July 28 at Shangri-La The Fort, BGC, in Taguig City. The conference discussed the issues and worries about trust in a progressively digital world.
The event was attended by speakers from the Global Fintech Institute (GFI), including David Lee, a professor at the Singapore University of Social Sciences and vice president of the Economic Society of Singapore, and Chia Hock Lai, co-founder of GFI and founding president of the Singapore Fintech Association.
Moreover, panel discussions were also held with representatives from the government, foreign countries, and the private sector.
What is TrustTech?
In a statement, they shared that TrustTech conferences aim to share best practices to deter cybercriminals. The movement is set to advocate for a whole-of-nation approach to cyber scams, public education, and business/consumer protection policies which will empower businesses and consumers to trust digital technology.
“Today, Digital Pilipinas together with our convenors, industry champions, sectoral and dialogue partners, break ground to the TrustTech platform — a critical pillar for fostering positive and lasting relationships between consumers, regulators, legacy brands, startups, investors and academe in the tech industry,” Digital Pilipinas Convenor Amor Maclang stated.
Maclang added that the launch of TrustTech is in response to President Ferdinand Marcos’ thrust to curb money crimes, which she cited as one of Marcos’ priority legislations.
Through capacity-building multilateral and cross-border partnerships, as well as resource-sharing work streams supported by the national government, Maclang emphasized the collective effort in creating a digital lifestyle that ensures safety for everyone.
Accordingly, BPI expresses its belief that cybersecurity is of paramount importance in the bank’s digitalization journey, as it ensures a safe, seamless, and secure customer experience. In addition, the bank disclosed that it continues to invest in technology, improve processes, and train employees to promote privacy and cybersecurity. The bank also invests in educating clients about the latest schemes through campaigns with government, media, and industry organizations.
“We must build confidence and foster trustworthy relationships among all stakeholders in the digital realm. TrustTech provides us with an opportunity to reimagine the way we operate and interact in our digital ecosystems,” said BPI President and CEO TG Limcaoco.
He also stressed that by employing the latest technologies, adopting robust security measures, and prioritizing consumer protection, firms can foster an environment that generates trust, promotes innovation, and sustains growth.
Digital Pilipinas Recent Initiatives
Digital Pilipinas recently organized the ASEAN: The Next Blockchain and Crypto Hub in the World event. In one of its discussions, a Philippine Panel, moderated by BitPinas EIC Michael Mislos, featured eight #CryptoPH Champions who shared their insights about the present crypto landscape and their organizations’ proactive efforts to attract more Filipinos to the crypto space. The panel discussed various initiatives, ranging from grassroots-level education to collaborations with regulatory authorities, all aimed at fostering crypto adoption in the country.
Moreover, Digital Pilipinas along with other key players from Africa and ASEAN fintech industries are set to launch the groundbreaking Africa x ASEAN Digital Economies and Fintech Month in October 2023. The collaboration aims to attract local investments and promote innovation, benefiting the Philippines and the combined population of two billion in the participating regions.
Digital Pilipinas was selected as the Philippine Economic Zone Authority (PEZA) and the Department of Trade and Industry’s (DTI’s) Board of Investments (BOI)’s inbound and outbound promotions partner for tech and other priority investment areas of the Marcos admin.
Maclang, along with the other all-female Philippine delegation representing prominent local firms and organizations, attended the London Tech Week 2023, where they received a warm welcome from the UK Prime Minister.
This article is published on BitPinas: BPI, Digital Pilipinas Collab to Launch TrustTech Movement
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.