A Unified Approach to EU Cyber Resilience

Cybersecurity and risk management have become paramount concerns, especially in the financial services sector. The Digital Operational Resilience Act (DORA) is set to address these issues head-on, bringing standardized risk management regulations to EU-member states.

DORA, which is scheduled to take effect by January 17, 2025, is a transformative legislative framework designed to harmonize and fortify the EU’s financial cybersecurity landscape.

Until now, risk management regulations across EU-member states aimed at ensuring organizations had sufficient financial resources to cope with operational risk. However, disparities between nations and overlapping regulations created challenges within the financial services industry. DORA is poised to bridge these gaps, remove overlaps, and eliminate conflicting regulations. It offers a unified approach to risk management in the digital era.

DORA comprises five integral parts:

  • ICT Risk Management
  • ICT-Related Incident Reporting
  • Digital Operational Resilience Testing
  • ICT Third-Party Risk Providers
  • Information Sharing

It’s important to note that DORA’s scope is far-reaching, encompassing a wide array of institutions in the EU. Traditional financial entities such as banks, investment firms, and credit institutions are included. Moreover, non-traditional entities like crypto-asset service providers and crowdfunding platforms are subject to its provisions. Even entities that do not adhere to traditional financial regulations, such as third-party service providers, credit rating services, and data analytics providers, must comply with DORA.

The introduction of the Digital Operational Resilience Act represents a significant step towards bolstering the EU’s cybersecurity infrastructure. It aims to create a cohesive and resilient framework that will safeguard financial entities and their digital operations.

As regulators start enforcing DORA on its licensees, Kyte is well positioned to help such companies get compliant, either by providing consultancy or by conducting a gap analysis to identify areas for improvement. Contact us if you would like to learn more about DORA.

Raising standards since 2006.

Kyte Global, with clients in over 65 countries has established itself as a unique company providing a one-stop-shop to all your information security and compliance requirements.

At Kyte Global we attempt to add value in everything we do. Our services have evolved as a result of the growing needs of our clients. Regulations keep getting stricter, compliance requirements keep getting more onerous and clients find themselves spending more time addressing these issues rather than focusing on their business. At the same time, resources with the right knowledge and experience are hard to come by. Kyte Global tries to tackle these issues by providing a one stop shop to all the client’s needs. Kyte Global understands that Compliance is an effective way of ensuring that controls are implemented.

Internally, Kyte Global is organised in teams, each dedicated to a specific service, usually revolving around a specific standard or regulation. Some of these are PCI DSS, ISO 27001, GDPR, Internal Audit, AML, Gaming, Penetration Testing, Training to name a few. Each team is made up of trained professionals, all experts in their own field.

Over the years, Kyte Global has established partnerships with suppliers that develop and implement industry leading solutions so that it can make recommendations to clients who require such services or products. Kyte is proud to have a network of partners that can assist its clients, big or small, in virtually all of the industries it operates in.


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