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Preparing for DORA:
Compliance Solutions for Financial Institutions

In the ever-evolving digital landscape, financial institutions face unprecedented cyber threats and IT disruptions. The European Union (EU) has taken a proactive stance to safeguard financial infrastructure with the implementation of the Digital Operational Resilience Act (DORA).

The DORA compliance deadline is January 17, 2025. Now is the time to ensure your institution is prepared.

DORA

DORA Explained

DORA stands for the Digital Operational Resilience Act, a landmark EU regulation aimed at strengthening the cybersecurity posture of financial institutions. Its primary objective is to foster operational resilience against IT disruptions and malicious cyberattacks.

Manage IT Risks

DORA requires strong governance to proactively manage and mitigate IT risks. Think robust frameworks and clear ownership.

Fast Incident Response

DORA mandates efficient incident reporting and response mechanisms. Financial institutions need to be prepared to detect and address threats quickly.

Find & Fix Security Gaps

Regular testing of digital systems is crucial. DORA emphasizes penetration testing to identify and fix vulnerabilities.

Vet Your Third-Party Partners

DORA requires oversight of external IT service providers. Institutions need to ensure their partners meet DORA’s security standards.

Act Now

Financial institutions have until January 17, 2025, to comply with DORA. Don’t get caught unprepared!

Who Does DORA Apply To?

DORA casts a wide net, encompassing a diverse range of financial institutions within the EU.
Here’s a breakdown of the institutions covered:

bank

Traditional Institutions

Banks, investment firms, credit institutions, payment and e-money institutions, insurance and reinsurance companies.
FINTECH

FinTech and Innovation

Account information service providers (AISPs), providers of crypto-assets under MiCAR (Markets in Crypto-Assets Regulation), and crowdfunding service providers.
sUPPORTING INFRASTRUCTURE

Supporting Infrastructure

Critical ICT third-party service providers (CTTPs) supplying financial institutions with vital systems and services (e.g., cloud providers, data centers).
DORA mandates the establishment of a robust framework for financial institutions to manage IT risks effectively. This includes implementing proper governance structures for critical systems and outlining clear ownership responsibilities.
Standardized incident reporting procedures become a cornerstone under DORA. Financial institutions must have efficient response mechanisms in place to swiftly address cyber threats and disruptions.
DORA emphasizes the importance of regular testing to identify and address potential vulnerabilities. This translates to mandatory operational resilience testing to ensure the effectiveness of implemented safeguards.
DORA recognizes the inherent risks associated with third-party IT service providers. The regulation establishes guidelines for financial institutions to rigorously oversee and manage these risks.
DORA outlines essential security requirements for financial institutions to strengthen the security posture of their networks and information systems. This includes measures to protect sensitive data and critical infrastructure.

The five Pillars of DORA

DORA establishes a comprehensive framework for financial institutions to enhance their operational resilience. Here’s a breakdown of its five key pillars:

How GAT Labs Facilitates DORA Compliance

In the face of DORA’s stringent requirements, GAT Labs emerges as a partner for financial institutions aiming to fortify their digital operational resilience. Here’s how our suite of tools can help your organization meet and exceed DORA compliance standards:

Pillar 1

Enhanced ICT Risk Management with GAT+

GAT+ enables financial institutions to maintain continuous oversight of their IT environment, crucial for DORA’s ICT risk management mandates.

Our tool offers comprehensive data analytics and reporting capabilities that help you detect potential IT disruptions and respond to data breach threats promptly, ensuring robust governance and oversight of your digital resources.

Pillar 2

Streamlined Incident Reporting with GAT Shield

DORA requires a structured approach to incident reporting, and GAT Shield is specifically designed to address this need.

With GAT Shield, financial institutions can monitor and manage cybersecurity events in real-time, facilitating rapid incident reporting and effective response mechanisms that DORA stipulates for maintaining high cybersecurity standards.

Pillar 3

Operational Resilience Testing with Automated Workflows

Regular testing of digital resilience as mandated by DORA can be seamlessly conducted using GAT Flow.

Our tool automates critical workflows, enabling institutions to test and evaluate their operational resilience frameworks efficiently. This automation helps ensure that all systems and processes are robust enough to withstand IT disruptions and cyber threats.

Pillar 4

Third-party Risk Management through Enhanced Oversight

Managing third-party IT service providers is a significant aspect of DORA compliance.

GAT Labs provides detailed insights into the operations and security posture of your third-party vendors, ensuring that all external partnerships align with DORA’s stringent security requirements and risk management frameworks.

PILLAR 5

Pillar 5

Secure Network and Information Systems

To comply with DORA’s requirements for network and information system security, GAT Labs offers tools like GAT Shield and GAT Unlock, which enhance the security of your IT infrastructure.

These tools help safeguard sensitive data and ensure that your organization’s network is resilient against cyber threats and vulnerabilities.

Don't let the DORA’s deadline
catch you unguarded!

Contact GAT Labs today and explore our comprehensive suite of compliance solutions.