Globe Business has joined forces with Blackpanda, the region’s premier cyber incident response specialist, to provide affordable, enterprise-grade cybersecurity solutions tailored for businesses in the Philippines. Their innovative partnership promises a fixed-cost incident response and digital forensics service designed to help organizations promptly detect, contain, and recover from cyberattacks. This offering, fondly dubbed a “cyber fire department,” includes continuous vulnerability scanning, dark web monitoring, and seamless access to cyber insurance, making it an invaluable resource for local enterprises aiming to neutralize digital threats swiftly.
KD Dizon, Head of Globe Business, emphasizes the growing urgency of the situation:
Cyber threats remain a pressing challenge for businesses of all sizes, and AI is amplifying both the sophistication and frequency of these attacks. Our partnership with Blackpanda makes immediate, expert incident response—once prohibitively expensive—accessible to organizations across the Philippines.
The threat landscape is escalating in the Philippines and Southeast Asia, fueled by inadequate cybersecurity preparedness, AI-driven vulnerabilities, and skyrocketing costs of attacks. Globe underscores the necessity for robust threat intelligence, skilled incident responders, collaboration, and the latest security technologies. In 2024 alone, 85% of Philippine firms reported AI-related attacks, while 84% faced supply chain breaches, with almost a third unable to detect these intrusions. The cost of breaches across ASEAN averaged an alarming USD 3.23 million last year, with the financial services sector suffering the most, racking up an average cost of USD 5.57 million. The region also witnessed a staggering 29% uptick in cyber incidents, accompanied by a rise in ransomware and phishing activities.
Historically, enterprise-level incident response services have been financially out of reach for many businesses, with hourly rates soaring to USD 500 and annual retainers typically ranging from USD 25,000 to USD 100,000. Blackpanda aims to disrupt this trend with its flagship solution, IR-1, which blends incident response, continuous vulnerability scanning, and cyber insurance support into a budget-friendly subscription model. This transformative approach lowers the financial barriers for firms, enhancing their operational resilience and cybersecurity posture.
Gene Yu, CEO of Blackpanda, shares the vision behind this collaboration:
Globe’s reach and trust in the Philippine market make them the ideal partner to scale our IR-1 cyber emergency subscriptions nationwide. By delivering always-on access to expert response through Globe’s trusted network, we’re ensuring that a small manufacturer in Cebu or a growing fintech in Makati can access the same level of cyber emergency support as multinational corporations.
The IR-1 solution boasts automated access to cyber insurance with coverage up to USD 10 million, continuous monitoring for potential risks, and elite response teams located across Asia—Manila, Singapore, Tokyo, and Hong Kong. Unlike its competitors, IR-1 supports any endpoint detection and response (EDR) solution, offering enterprises maximum freedom and flexibility.
How will the partnership between Globe Business and Blackpanda benefit Filipino companies?
The partnership aims to provide accessible, enterprise-grade cybersecurity solutions to Filipino businesses, allowing them to swiftly detect and respond to cyber threats without the prohibitive costs historically associated with such services.
What are the key features of the IR-1 solution offered by Blackpanda?
IR-1 includes automated access to cyber insurance, continuous attack surface monitoring, dark web scanning, and support for any endpoint detection and response solution, ensuring comprehensive coverage and flexibility for businesses.
What trends are driving the increase in cyber incidents in Southeast Asia?
The rise in cyber incidents is largely attributed to low cybersecurity readiness, the growing number of AI-related threats, and the increasing costs of attacks, necessitating urgent action and investment in cybersecurity measures.
