EY allies with CrowdStrike to transform cyber risk management

• Alliance helps companies identify, prevent, respond to cyber threats
• Provides risk insights to enable better business decision-making 

Ernst & Young Advisory Pte. Ltd. (EY Singapore) has entered into an alliance with CrowdStrike Inc to deliver cloud endpoint and workload protection in the Singapore market. 

In a statement, the risk consulting firm said the alliance aims to seamlessly integrate cybersecurity operations and risk management within the enterprise.

EY said in today’s complex cyber risk landscape, organisations recognise the value of establishing comprehensive and reliable cybersecurity strategies and operations.

The EY-CrowdStrike Alliance combines CrowdStrike’s leading-class cybersecurity technologies with transformational consulting capabilities and cyber services provided by EY teams, it said.

Specifically focused on addressing cyber risk and threat management, cyber incident response and cyber threat intelligence, the collaboration offers broad security services to help clients understand and address cyber threats unique to their businesses, and leverage alliance capabilities to effectively help manage those risks, it said.

Steve Lam (pic), EY Asean cybersecurity leader said cyberattacks are becoming more prevalent and sophisticated. 

“According to our latest survey, 77% of chief information security officers (CISOs) globally reported an increase in disruptive attacks. T

“Through the EY-CrowdStrike alliance we are jointly developing solutions that infuse our consulting experience with the cybersecurity technology platform to help businesses establish innovative and proactive cybersecurity defenses that are so important in today’s threat landscape,” said Lam.

EY said the CrowdStrike Falcon platform offers a cloud-based architecture that is scalable, manageable and effective across all devices, workloads and identities, playing a critical role in protecting today’s distributed remote workforce.

The data collated can then be used to mitigate risk for clients, providing protection against today’s cyber threats, EY said.

Krishna Balakrishnan (pic), EY Global and Asia-Pacific cybersecurity managed service (CMS) leader said cyber skill shortage and cost of operations continue to be top challenges faced by our clients while they combat sophisticated threats. 

“To address these concerns, we are continually investing in our cyber managed services to bring a tailor-made next gen security operations and response capabilities to our clients at competitive price points.

“By combining our capabilities with Crowdstrike’s cloud-based Falcon platform, we are able to better meet our client’s current and future incident detection and response recovery needs.  The platform leverages advanced technologies to fully automate the detection and response to sophisticated cyber threats, which organisations can deploy at scale and with reduced labor requirements,” Krishna said.

Both companies claimed businesses can benefit from reduced risk of a significant cyber event and enhanced compliance with cyber risk mandates, while also enjoying increased confidence in understanding the cyber threat landscape and how to communicate risk details to key stakeholders.

It also helps teams to align budgets and resources so they can manage risk accordingly, they said.

“The agreement with EY Singapore is another step forward in what we see as a holistic approach, providing the cyber capabilities needed by our clients” said Fabio Fratucello, chief technology officer of CrowdStrike in Asia Pacific and Japan. 

“Working with industry-leading organisations provides a scalable breadth of expertise and tools to combat cyber threats. Where other cybersecurity vendors try to convince organizations that technology alone can protect their business, the reality is that technology alongside human expertise provides a more robust cybersecurity solution.”