EU Regulation DORA
Everything you need to know about the Digital Operational Resilience Act (DORA) and the sustainable implementation of the requirements.
Determined against cyber threats
In the face of increasing digitalisation and rising cyber threats, the EU is pulling up the protective walls.
The Digital Operational Resilience Act (DORA) defines clear requirements for the financial sector in the areas of cybersecurity, risk management and continuity planning, promoting a more resilient and secure financial infrastructure. For affected parties, it is now a matter of actively preparing to successfully implement the requirements in their own companies by January 2025.
What is DORA?
The Digital Operational Resilience Act is an EU-wide regulation that creates a uniform framework for financial institutions regarding the operational resilience of digital systems. This created uniform guidelines to protect the financial IT landscape and harmonised existing European and national policies. Starting from 2025, all financial service providers must prove that their organisation can withstand various ICT crises across levels and departments and that the operational stability of digital systems is consistently ensured.
Who is affected?
DORA has far-reaching implications on a diverse spectrum of entities in the financial and digital sectors. This includes financial institutions such as banks, credit unions and insurance companies, as well as ICT third-party providers like cloud service providers, payment processors and fintech companies. These organisations are mandated to comply with the regulations and ensure the stability of their digital systems in the event of disruptions.
DORA: The compact PDF guide
Your free guide to everything DORA: Here you will find all the essential information and useful tips, summarised clearly and concisely in PDF format.
What are the DORA requirements?
The requirements of the Digital Operational Resilience Act are clearly defined and aim to minimise the impact of cyber attacks, technical failures and other digital disruptions. These requirements include the implementation of robust cybersecurity measures, appropriate risk management procedures, continuous monitoring of IT systems and accurate incident reporting. The regulation promotes a proactive culture of resilience in dealing with digital threats.
Pragmatic implementation in the own company
By January 2025, financial institutions and ICT third-party providers must meet the new DORA requirements. Therefore, it is important to initiate the right measures at the right time. Depending on which measures and security measures are already in place in the company, the implementation process can be an substantial project. Affected organisations must undergo assessments of their existing digital infrastructure and operations. This involves identifying potential vulnerabilities and analysing system dependencies. Therefore, companies are encouraged to prepare for the requirements far-sightedly and with sufficient lead time – on the one hand, to protect themselves from cyber threats, and on the other hand, to avoid penalties and sanctions.
Would you like to learn more about the sustainable implementation of the regulation?
Here you will find further expert content on the DORA regulation:
Expert web seminar
Resilience expert Dr Roland Pulfer will guide you through the topic of DORA and show you how to implement the regulation in a live software demo.
Using illustrative examples and screenshots, the brochure provides an insight into how the GRC & beyond platform TopEase® facilitates implementation using software.
Read the latest article “DORA Regulation: How to make digital systems stable” by resilience expert Dr Roland Pulfer.
… or contact us for a personal meeting to find out how our software solutions enable effortless implementation.
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