New EU Regulations: Enhancing Security Standards for Banks and Technology Suppliers
Thursday, 8 August 2024, 05:03
Introduction
As the financial landscape evolves, new security standards are being imposed on banks and their tech suppliers
Overview of DORA
The Digital Operational Resilience Act (DORA), effective by January 2025, mandates compliance from financial institutions
- Strengthening operational resilience
- Mitigating significant IT disruptions
- Enhancing risk management frameworks
Conclusion
In conclusion, DORA represents a crucial step towards safeguarding the European financial system against technological failures and ensuring sustainable operations for banks and their partners.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.