In a series of back-to-back speaking engagements, Rizal Commercial Banking Corporation (RCBC) Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva underscored the urgent need for a two-way strategy to combat the rising threat of AI-driven fraud.
At the Asian Banking & Finance and Insurance Asia Summit and the Canadian Embassy Cybersecurity Forum, Villanueva highlighted the critical balance between proactive security measures and collaborative industry efforts in safeguarding financial systems.
Villanueva also stressed the need to upskill bank employees and talents to identify and combat AI-driven fraud and increase education and awareness efforts to target the ever-expanding consumer base of Filipino banked customers.
During the Asian Banking & Finance and Insurance Asia Summit, Villanueva joined a panel discussion on the “State of Financial Inclusion” in the country. He highlighted the value of education in accelerating the integration of digital financial services into the everyday routine of Filipinos and countering the rise of online fraud activity.
The Fintech Alliance PH Founding Chairman joined Sari Mortel, Head of Payments of Philippines, J.P. Morgan; Dr. Adrienne Heinrich, AI Center of Excellence Head of UnionBank; and Noel Tordesillas, Head of E-Channel, Business Channels of Etiqa.
“Digital technology is not the end-all and be-all; that is just the enabler. Digital will not solve the problem — it has to be the education component that would drive adoption,” Villanueva said.
He elaborated that joint financial literacy programs with partners in the public and private sectors would elevate Filipinos’ awareness, aptitude, and capacity to adopt savings, loans, and insurance into their daily lives and long-term plans in light of AI-created cyber fraud.
At the invitation of Canadian Ambassador David Hartman, Villanueva delivered a keynote speech at the Canadian Embassy Cybersecurity Forum titled “Developing an All-Encompassing Cybersecurity Measure to Address the Multifaceted Cyber Threats.”
His address emphasized the importance of collaborative and cross-industry approaches in neutralizing the growing threats of cyber fraud and AI-powered attacks.
The event was attended by key industry leaders, including Department of Information and Communications Technology (DICT) Undersecretary Jeffrey Ian C. Dy, Department of Budget and Management (DBM) Undersecretary Maria Francesca (“Sasa”) Del Rosario, and former National Privacy Commission (NPC) Chairman Raymund E. Liboro, among others. It highlighted the shared commitment across sectors to strengthen the country’s cybersecurity defenses.
“The digital landscape is evolving rapidly, bringing both convenience and new cybersecurity threats that put our financial systems, businesses, and personal identities at risk. Cybersecurity is no longer just an IT issue—it is a national security priority,” Villanueva said.
The RCBC Executive was named “Asia Trailblazer of the Year” by Retail Banker International, “CX Professional of the Year” by the Digital CX Awards, and PhilSec’s “Digital Leader of the Year.” He was also included in The Asian Banker (TAB) Global List of Leading Practitioners in Banking and Financial Technology.
Villanueva continues to receive various recognitions for his contributions to the fintech landscape and RCBC’s digitalization journey with its flagship digital solutions – RCBC Pulz, RCBC ATM Go, and RCBC DiskarTech.