"A McKinsey survey of major European financial institutions found that only about a third were confident they could meet all DORA requirements by the January 2025 deadline."
"Nearly half (46 per cent) identified the Register of Information, DORA's mandatory inventory of all ICT third-party contracts, as the single most challenging requirement to fulfil."
"The regulation rests on five pillars: ICT risk management, incident reporting, digital operational resilience testing, third-party risk oversight, and information sharing."
The Digital Operational Resilience Act (DORA) took effect on January 17, 2025, aiming to enhance digital risk management in Europe. A McKinsey survey revealed only a third of financial institutions are confident in meeting DORA requirements by the deadline. Deloitte's research indicated that 50% expect full compliance by the end of 2025, while 38% have extended their targets to 2026. The regulation applies to a wide range of financial entities and includes five pillars: ICT risk management, incident reporting, resilience testing, third-party risk oversight, and information sharing.
#digital-operational-resilience-act #financial-institutions #regulatory-compliance #ict-risk-management #eu-regulations
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