Strengthen Operational Resilience and Ensure Regulatory Compliance with BetterQA

Key DORA Requirements for Financial Institutions

As the Digital Operational Resilience Act (DORA) takes center stage in the EU, financial institutions face increasing pressure to enhance their ICT resilience, adopt robust risk management, and conduct thorough vulnerability testing. BetterQA is committed to helping institutions navigate these critical compliance challenges with clarity and confidence.

Understanding the DORA Requirements

DORA establishes a unified framework for financial institutions to ensure operational continuity, safeguard sensitive data, and withstand ICT disruptions. The DORA requirements are essential for achieving regulatory compliance and avoiding severe penalties.

Key DORA Requirements

Here’s a breakdown of its core components:

ICT Risk Management: Financial institutions must implement frameworks to identify, assess, and mitigate ICT risks while ensuring ongoing threat monitoring.

Vulnerability Testing: DORA requires regular independent penetration testing to uncover and address vulnerabilities through realistic attack simulations.

Incident Reporting: Institutions must promptly report significant ICT incidents and provide detailed analyses of their causes and impacts.

ICT Resilience Testing: Regular testing must be conducted to evaluate and strengthen systems’ ability to recover from disruptions.

Third-party Risk Management: Continuous assessment and contractual compliance ensure third-party ICT providers meet resilience and risk-sharing standards.

How BetterQA Can Help You?

At BetterQA, we offer tailored solutions to address these challenges effectively. Our Services Include:
Gap Analysis: Identify compliance gaps with a thorough review of your ICT infrastructure.
Penetration Testing: Simulate threat scenarios to identify vulnerabilities.
Resilience Testing: Perform regular assessments of your ICT systems' robustness.
Incident Reporting Assistance: Develop streamlined processes for initial, intermediate, and root cause reports.
Third-party Risk Management: Monitor and mitigate risks from ICT providers.

Why Choose BetterQA?

Independence

As a QA-only company, we ensure unbiased compliance insights without conflicts of interest.

Expertise

Our team combines years of QA experience with in-depth knowledge of cybersecurity frameworks.

Proven Tools

The Honeywell Cyber Insights platform offers unparalleled visibility into OT and IT environments, identifying vulnerabilities before they become threats.

Trusted Partner

With partnerships across the EU, UK, and US, and a proven track record as NATO vendors, we are a reliable choice for your compliance needs.

Quality-Obsessed QA Experts

Since 2018, our software testing services company with over 50 QA experts has been committed to catching issues before they become problems, providing comprehensive quality assurance and testing services that span everything from mobile apps to complex web platforms.

Based in the heart of Romania's flourishing tech scene, we bring a meticulous, no-nonsense approach to software testing, always focused on helping you achieve a flawless product and a strong return on investment.

Industry-Recognized Certifications

ISTQB Certified Testers

across various levels (Foundation, Advanced, and Expert).

Certified Security Testers

with expertise in penetration testing and vulnerability assessments.

Certified Automation Engineers

skilled in the latest tools and technologies.

Challenges Financial Institutions Face

Meeting DORA requirements presents unique hurdles, including:

Resource Constraints: Limited internal resources for extensive testing.
Complex ICT Environments: Managing risks across multi-vendor ecosystems.
Evolving Regulations: Keeping pace with the continuous updates to DORA’s guidelines.

Benefits of Early DORA Compliance

Proactively adhering to DORA requirements offers:

Frequently Asked Questions

Q1: What are the main DORA requirements for financial institutions?

DORA requires ICT risk management, regular vulnerability testing, incident reporting, resilience testing, and third-party risk management.

Q2: Why is vulnerability testing mandatory under DORA?

It ensures that financial institutions can identify and mitigate system weaknesses before they are exploited.

Q3: What happens if an institution fails to comply with DORA?

Non-compliance can lead to significant financial penalties, reputational damage, and operational restrictions.

Q4: How does DORA impact third-party vendors?

Third-party vendors must demonstrate ICT resilience and adhere to specific contractual compliance obligations.

Q5: What is ICT resilience, and why is it important for DORA compliance?

ICT resilience refers to the ability of ICT systems to withstand, recover, and adapt to disruptions, which is essential for operational continuity and meeting DORA standards.