In terms of regional distribution, the Philippines logged the highest number of unique users attacked in Asia Pacific at 22.26% of all banking Trojans discovered in the region.
A white paper by the National University of Singapore’s Lee Kuan Yew School of Public Policy said the “analog economy” is a big factor in the Philippines, where actual money and offline transactions still exist.
Private and public sector organizations in Asia should prioritize partnerships and cooperation to build a substantial technology talent pool to be ready against escalating cyberattacks.
Tech firm GoDaddy said when it comes to the digital marketplace, it’s not enough for small businesses to only capture the attention of consumers, they also need to connect them easily to a direct point of sale opportunity on their website.
Fortinet Philippines said that with retail shifting much of its business online, various POS systems and applications may be “open” to new vulnerabilities and threats.
Most Filipino consumers are increasingly expecting a highly personalized and seamless experience like what they get from digital apps and services, such as online shopping, digital banks, payment apps, ad OTT platforms, among others.
Logistics firm Locad said while many businesses address “first mile” and “last mile” problems in delivery, very few provide the fully integrated solution that the company is pioneering.
Cisco Philippines managing director Karrie Ilagan noted that work-from-home arrangements do have challenges including connectivity, an ever-growing demand for broadband, and video-call “fatigue” that many customers and partners have experienced.
