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DORA

Enhancing ICT Risk Management & Operational Resilience

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The Digital Operational Resilience Act (DORA) is a European Union regulation designed to strengthen the digital operational resilience of financial entities by establishing a comprehensive framework for managing information and communication technology (ICT) risks. Effective from January 17, 2025, DORA mandates that financial institutions and their critical third-party technology service providers implement robust ICT risk management practices to withstand, respond to, and recover from ICT-related disruptions

Who Must Comply with DORA?

  • Financial Institutions in the EU:
  • This includes banks, insurance companies, investment firms, and other financial intermediaries that operate within the European Union. All such institutions are required to have robust ICT risk management frameworks to comply with DORA.
  • Critical Financial Market Infrastructures (FMIs):
  • Entities that play a central role in the financial system—such as payment systems, trading platforms, and central counterparties—must adhere to DORA to ensure operational resilience.
  • Fintechs and Digital Banks:
  • Emerging financial technology companies and digital banks that offer financial services to EU consumers fall under the scope of DORA, ensuring that innovative financial solutions are not compromised by ICT vulnerabilities.
  • ICT Third-Party Providers:
  • Vendors and service providers that supply critical ICT services to financial institutions, such as cloud services, cybersecurity solutions, and data analytics platforms, are also subject to DORA. These providers must ensure their services meet the stringent resilience requirements imposed by the regulation.
  • Non-EU Firms Targeting EU Markets:
  • Organisations outside the EU that offer financial services or products to EU consumers, or monitor the behaviour of EU market participants, are required to comply with DORA to ensure their ICT systems are resilient against operational disruptions.

Key Areas of DORA Compliance:

  • Risk Management:
  • Implement comprehensive risk management frameworks to identify, assess, and mitigate ICT risks.
  • Incident Reporting:
  • Establish clear protocols for the detection, reporting, and resolution of ICT-related incidents, ensuring minimal disruption to services.
  • Digital Operational Resilience Testing:
  • Regularly test the resilience of ICT systems through simulations and stress tests, ensuring preparedness for real-world cyber threats.

  • Third-Party Risk Oversight:

  • Monitor and manage risks associated with ICT third-party providers, ensuring their operations do not compromise the financial institution’s overall resilience.

Our DORA Compliance Services

We offer a suite of services tailored to achieve and maintain DORA compliance, including:

  • DORA Gap Assessment & Risk Analysis – Evaluating your current ICT risk management framework to identify areas of non-compliance and vulnerabilities.​

  • ICT Risk Management Framework Development – Designing and implementing policies and procedures that meet DORA’s stringent ICT risk management standards.​

  • Incident Reporting & Response Planning – Establishing protocols for timely detection, reporting, and remediation of ICT-related incidents.​

  • Digital Operational Resilience Testing – Conducting regular testing to assess the effectiveness of your ICT defenses and resilience strategies.​

  • Third-Party Risk Management – Assessing and monitoring the resilience of critical third-party ICT service providers to ensure they meet DORA requirements.​

Who needs to comply with DORA

Financial Sector
Insurance organisations

DORA Compliance Assessment

Our DORA Compliance Assessment provides organizations with:

  • Comprehensive Evaluation – A thorough analysis of your existing ICT risk management practices against DORA standards.​
  • Risk Identification – Pinpointing specific areas where your organization may be vulnerable to ICT disruptions.​
  • Strategic Roadmap – Developing a tailored plan to address identified gaps and achieve full compliance by the January 2025 deadline.​

22K+ Financial

Entities across the EU expected to comply with DORA

80% Financial

Organisations reportedly underprepared for DORA’s operational resilience standards