In his opening remarks, Limcaoco, who helms one of the country's leading banks, framed artificial intelligence (AI) and digital innovation as the defining forces of competitiveness. “The choice ahead of us is clear — to innovate or to stagnate, to move forward boldly or to risk irrelevance,” he told delegates.

Limcaoco outlined five priorities guiding the BAP agenda. The first is market infrastructure rationalisation. “We have successfully rationalised our stake and role in the Philippine Dealing System, sharpening our focus on the Philippine Dealing Exchange by transitioning custody functions and other non-fixed income exchange functions for securities to the Philippine Stock Exchange. We now have greater clarity, optimal alignment and focused leadership, paving the way for a unified and robust national financial market infrastructure,” he said.

The second is digital resilience and cybersecurity. “Smarter banks are secure banks,” Limcaoco stressed. He described the passage of the Anti-Financial Account Scamming Act as “a historic milestone,” saying it “criminalises phishing, mule accounts and other forms of digital fraud, categorising them as economic sabotage in certain circumstances.” He explained the BAP’s three-pillar approach of “education, interdiction and prosecution,” supported by awareness campaigns, capacity-building and digital intelligence applications.

On payments efficiency, he pointed to the merger of BancNet, the country’s largest interbank network, and the Philippine Clearing House Corporation, which oversees check clearing and settlement. “This marks the creation of a streamlined payments ecosystem, setting the foundation for a future of deeper technology, application and precision in payments processing,” he said.

Discussing technology adoption and digitalisation, he said that banks are facing increased competitive pressure from fintechs and innovators. “Yet rather than perceiving fintech as threats, we choose to see them as catalysts. Embracing technology is no longer optional but essential,” he said, adding that banks will thrive not by capital alone, but by agility, intelligence and boldness in using technology to deliver value.

Finally, on legislative reform, Limcaoco said mandatory credit-lending policies and rigid bank secrecy laws, though once well intentioned, have become constraints in today’s data-driven marketplace. “The BAP is taking decisive steps to advocate legislative reforms, confronting inertia head-on. By modernising these laws, we create fertile ground for tech-driven analytics, smarter risk management, better credit assessment and a more competitive and transparent banking sector,” he said.

Limcaoco closed with a call to action, emphasising that the building blocks for transformation — infrastructure rationalisation, cyber resilience, payments integration, technology adoption and legislative reform — are already in place. “Let today mark not only a conference, but also the catalyst for the transformation of Philippine banking — a sector that is smarter, more resilient and boldly prepared for the future," he declared.