Digital Operational Resilience Act (Dora)
Does DORA apply to your organization as well? Or to your chain partners? We help you organize your cybersecurity across the entire value chain.
What does DORA mean?
The Digital Operational Resilience Act (DORA) recently came into force and sets stricter requirements for risk management, network resilience and incident reporting for EU financial institutions.
A key element is responsibility for the entire service delivery chain, including supply chain partners. Financial institutions must therefore monitor not only their own ICT infrastructure, but also that of their suppliers.
What is DORA?
The Digital Operational Resilience Act (DORA) is a regulation that aims to improve the operational resilience of the financial sector within the European Union. It specifically focuses on reducing digital risks and strengthening the security of IT systems. DORA applies to all financial institutions, including banks, insurance companies, investment funds, and payment service providers.
The regulation requires financial institutions to make their IT systems robust and secure so that they can withstand cyber threats and operational disruptions. Providers of critical IT services, such as cloud providers, may also be held by financial institutions to specific requirements set out in DORA.
What does DORA offer organizations
Risk Management for ICT
Organizations must implement detailed measures for managing ICT-related risks. This includes identifying, controlling, and mitigating potential IT risks.
Third-party safety
Suppliers of critical IT services are also brought under DORA. Financial institutions must ensure that their external suppliers comply with the security standards required by DORA.
Incident reporting
In the event of a cyberattack or IT disruption, organizations must report quickly and effectively to regulators. This helps increase transparency and limit the impact.
DORA and other safety standards
Although DORA is specifically focused on the financial sector, the underlying philosophy is similar to other standards such as ISO 27001. While ISO 27001 focuses on information security management, DORA places emphasis on the financial sector and IT security.
Although DORA targets a specific sector, organizations that already operate in accordance with ISO 27001 may have a solid foundation for meeting DORA requirements.
I want to know more about DORA
Our experts are here to help you comply with DORA. Fill out the contact form and we'll get back to you shortly.
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