Benefits of using Ekran System for DORA compliance
Here’s how you can benefit from using Ekran System to comply with the DORA regulation:
Strengthen corporate security
Protect sensitive data
Mitigate cybersecurity risks
Timely detect suspicious activity
Avoid penalties for non-compliance
Accelerate incident response
Who needs to comply with DORA?
DORA applies to a wide range of financial entities operating within the European Union, including credit and payment institutions, investment firms, financial market infrastructures, and entities that provide critical third-party services to organizations in the financial sector.
DORA compliance is mandatory, meaning that affected financial entities operating in the EU will be legally obliged to comply with DORA requirements. Financial entities that are physically located outside the EU may also be subject to DORA if they provide services within EU borders.
The key purpose of DORA compliance
The primary aim of DORA is to enhance the operational resilience of financial organizations.
Operational resilience is the ability of a financial entity to build, assure and review its operational integrity and reliability by ensuring, either directly or indirectly through the use of services provided by ICT third-party service providers, the full range of ICT-related capabilities needed to address the security of the network and information systems which a financial entity uses, and which support the continued provision of financial services and their quality, including throughout disruptions.
The Digital Operational Resilience Act
By developing DORA compliance requirements, the EU aims to help financial organizations to:
Effectively mitigate risks
Manage security incidents
Enhance resilience against threats
Handle third-party risks
Exchange experience within the sector
Ensure DORA compliance with Ekran System
Your organization can use the Ekran System insider risk management platform for implementation of Digital Operational Resilience Act requirements:
How Ekran System can help you comply with DORA
|DORA compliance requirements
|Ekran System offering
|ICT risk managementCHAPTER II (Articles 5-16) points out the monitoring activities and other security procedures and policies financial institutions should establish and regularly update to enable a proper ICT risk management process.
|ICT-related incident management, classification, and reportingCHAPTER III (Articles 17-23) states that applicable entities need to have the means to quickly detect, track, classify, and report ICT-related incidents as well as establish responsibilities and mitigation plans for various incident scenarios.
|Digital operational resilience testingCHAPTER IV (Articles 24-27) outlines that financial organizations should assess and test their preparedness for handling ICT-related incidents at least once a year to identify and eliminate gaps in operational resilience.
|ICT third-party risk managementCHAPTER V (Articles 28-44) lists the rules and requirements financial entities need to follow to ensure secure cooperation with ICT service providers and properly manage third-party risks.
|Information and intelligence sharingCHAPTER VI (Article 45) encourages financial institutions to exchange cyber threat information and intelligence to enhance digital operational resilience in the whole sector.
Let’s get the conversation started
Contact our team to learn how our insider risk management software can safeguard your organization’s data from any risks caused by human factors. Book a call with us at a time that suits you best, and let’s explore how we can help you achieve your security goals.