THE Philippine banking industry must strengthen governance, security and accountability as artificial intelligence (AI) becomes increasingly embedded in financial services, the Bankers Association of the Philippines (BAP) said.
In a statement, the industry group said banks need to ensure that AI adoption translates into measurable business value without compromising resilience, customer trust and financial security as the sector undergoes rapid technological change.
The BAP, in partnership with The Asian Banker, brought together senior leaders from banks, digital banks, fintechs, regulators, technology providers and corporations at Finance Philippines 2026 in Taguig City to discuss the practical challenges of deploying AI across the financial sector.
Anchored on the theme “The Operating Playbook for AI Banking,” the conference examined the economics of AI-enabled banking, agentic AI, production-grade AI infrastructure, AI-driven fraud and the broader implications of embedding AI into banking operations.
“The question before us is no longer whether artificial intelligence will matter to banking. The question is whether we will build the organizations, safeguards, capabilities, and ways of working needed to use it well,” said Ana Aboitiz Delgado, president and chief executive officer of UnionBank and president of BAP.
She said AI could eventually become as indispensable to banking as the internet, making it critical for institutions to establish the right foundations early rather than scramble to catch up.
Delgado also stressed that responsibility for AI-driven outcomes should remain with financial institutions, rather than being shifted to technology vendors or individual technical teams.
“The central point here is that accountability remains with the institution. It does not move to the vendor, the model, or to the technology team,” she said.
She said every AI system deployed in production should have a designated owner, a clear governance structure and a documented process for handling failures.
The BAP also called for greater collaboration among financial institutions, particularly in addressing fraud, as increasingly interconnected financial systems make individual vulnerabilities a potential industry-wide risk.
“We must collaborate as an industry. We need common standards and stronger sharing, especially in fraud intelligence,” Delgado said.
She noted that fraud networks do not recognize institutional boundaries, making coordinated defenses increasingly important.
For the Philippines, she said AI adoption should go beyond improving efficiency and also support greater financial inclusion.
The BAP said its partnership with The Asian Banker through Finance Philippines 2026 reflects its push for stronger dialogue and collaboration across the financial services ecosystem as the industry prepares for an increasingly AI-driven future. / KOC