DORA compliance made easy with Corporate Governance Tools
Digital Operational Resilience Act (DORA)
DORA is an EU regulatory framework that ensures financial institutions and their ICT service providers can prevent, detect, respond to, and recover from digital threats.
It requires financial entities to implement robust ICT risk controls, report major incidents to competent authorities, and maintain consistent arrangements with third-party providers, all to protect the stability of the financial ecosystem.
As of January 2025, full compliance is mandatory for all EU financial entities.
How to stay compliant
The Digital Operational Resilience Act (DORA) sets compliance standards for European financial entities, including banks, insurers, insurance companies, and ICT providers. Non-European firms serving these entities may also need to align with DORA to sustain their partnerships. In this context Legal departments are crucial to ensure DORA compliance, bridging regulatory needs with organizational execution. Some key areas of focus include maintaining, establishing and keeping:
IDENTIFY ICT PROVIDERS & KEY FUNCTIONS
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With our AI-powered extraction of your contractual data
Identifying critical ICT third-party providers performing important functions in your ecosystem is a key pillar towards DORA compliance.A Contract Lifecycle Management (CLM) tool will speed-up this process—especially when enhanced by AI-powered features.
How:
Generate a list of ICT providers, analyze their compliance clauses, and export this data for further review in minutes. AI-enabled clause libraries can store all DORA relevant contract terms and ensure accuracy and easy access when dealing with third-party risk requirements.
INCIDENT REPORT GENERATION & EFFECTIVE COMMUNICATION
Visualize decision chains, delegations, and affiliations
Across all companies in your group
DORA mandates timely reporting of significant ICT-related incidents, no matter their size. Reports must be detailed, covering root causes, affected ICT systems, and involved parties. An Entity Legal Management (ELM) platform simplifies incident tracking and ensures effective communication with competent authorities and stakeholders.
How:
An ELM tool ensures transparency and facilitates communication, strengthens incident management and offering real-time updates while supporting regulatory compliance.
Stay ahead by implementing a wide range of ICT risk management tools and developing a risk management framework that strengthens your defense against cyber threats and ICT disruptions. Gaining actionable insights into your digital environment is key to staying resilient.
To comply with the DORA regulation, financial entities must take proactive steps to build strong partnerships with critical third-party providers, conduct regular penetration testing, and embed monitoring, incident response, operational resilience testing, and resilience testing within a unified oversight framework. By leveraging information and communication technologies, advanced technology solutions, and promoting threat intelligence, ICT risk management, and information sharing, institutions can mitigate risks, strengthen business continuity, and enhance their ability to withstand and recover from ICT-related incidents.
DORA compliance is an ongoing commitment to operational resilience and cybersecurity excellence across the EU financial sector.
Learn more about staying compliant!
DiliTrust Governance suite provides the support teams need to meet compliance requirements effectively. Discover how our solutions can ease your operations, book a demo with us today!
