DORA: How financial companies are meeting the challenges
The Digital Operational Resilience Act (DORA) was passed to address the increasing cyber threats in the financial industry and strengthen resilience. Implementation is challenging for many companies. An expert explains how organizations can address this. Since January 17.01.2025, XNUMX, companies in the European financial sector have been required to comply with the DORA requirements. DORA mandates robust IT risk management and incident reporting processes, which poses challenges for many financial institutions. This is because numerous companies in the financial sector still use outdated IT systems that are unable to meet DORA's stringent requirements.