EY is ramping up the cybersecurity services it offers to large banks and other financial institutions, with plans to hire 1,200 people and invest $20 million over the next five years to enable its clients to outsource parts of their cyber defences.

The Big Four consultancy is launching its first security centre in Trivandrum, India, this week and plans to have a staff of 200 people staff by 2016. It is part of its aim to set up security centres across the world and bring on board 1,200 people globally by 2020.