What is the DORA Regulation and why is it key for financial companies?

DORA is the Regulation (EU) 2022/254, approved to ensure that financial institutions resist, respond to and recover from ICT incidents, such as cyberattacks or critical failures, thus reinforcing the stability of the European financial system.

By establishing a single and harmonized framework for digital resilience, DORA seeks to avoid regulatory discrepancies between EU countries, which is essential in an increasingly digitized context exposed to cyber threats.

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The 5 Pillars of DORA Compliance

Below, we explore the five fundamental pillars required by DORA and how they directly impact financial companies:

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1. ICT risk management

Organizations must implement a comprehensive ICT risk management framework, including identification, protection, detection, response and recovery from incidents. It is essential that the Senior management actively participate in oversight and strategic decision-making.

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2. Notification of ICT incidents

The regulation requires reporting significant incidents in an agile and structured manner both to competent authorities and internally. A delay or error in notification may result in penalties.

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3. Digital resilience testing

Entities should carry out regular tests, such as pentesting, crisis simulation exercises and, for critical suppliers, Threat-Led Penetration Testing (TLPT).

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4. Third-party risk management

DORA requires that the risk associated with ICT providers and subcontractors be thoroughly managed, including contractual clauses that guarantee compliance with the regulations.

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5. Information exchange

The regulation encourages the sharing of threat intelligence with agencies and other entities to increase the resilience of the financial ecosystem.

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Deadlines, challenges and consequences of non-compliance

• Deadline: January 17, 2025
• Key Challenges: identify subcontractors, adapt contracts and carry out a gap analysis against specific requirements still pending technical standards
• Possible penalties: significant fines, operational restrictions or reputational damage.

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Strategic advantages of complying with DORA

Beyond the legal obligation, adapting to the DORA offers benefits such as:

• Modernize technological infrastructures.
• Increase customer confidence by demonstrating commitment to safety.
• Gain a competitive advantage against lagging competitors.
• Homogenize resilience processes with other frameworks such as NIS 2 or GDPR, reducing costs and duplication.

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How to prepare your financial institution for DORA?

Recommended roadmap:

1. Initial diagnosis: performs a gap analysis with respect to the five pillars of DORA.
2. Update of policies and contracts: incorporates new regulatory requirements into contracts with third parties.
3. Internal training: sensitizes and trains teams.
4. Implement advanced technological solutions: as integrated cybersecurity platforms that unify SIEM, SOAR and Threat Intelligence for centralized and automated management.

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It's time to act

El DORA compliance is not only a legal requirement, but a strategic opportunity to reinforce digital operational resilience and gain the trust of your customers. Don't wait any longer: start planning and implementing the necessary changes today to be ready.

Do you want help preparing your organization for DORA? Contact us and strengthen your digital resilience with solutions adapted to your needs.

✅ Request a consultation with our technical team.

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