The Digital Operational Resilience Act (DORA) is a security standard that addresses an important issue in the EU financial regulation and is transforming the way financial institutions approach digital resilience. Established by the EU Union, this regulation came into effect on January 16, 2023, with a 24-month period for entities to become compliant. So all entities should be compliant by January 17, 2025.
DORA aims to enhance the resilience of digital operations and protect the integrity of the financial market infrastructure in the European Union. Compliance with DORA is a pathway to creating a more secure and reliable digital environment within financial institutions. The act impacts day-to-day operations, security protocols, and compliance measures.
Non-compliance with DORA can result in administrative fines, reputational damage, and even the withdrawal of authorization, all of which could lead to a loss of competitive advantage in the EU financial market. Penalties can vary based on the specific circumstances but may include fines of up to 10 million euros or 5% of an organization's total annual turnover. For repeat offenders, the withdrawal of authorization is also a possibility. Therefore, adherence to DORA is not merely a legal requirement but a critical business need for financial institutions operating in the EU.
Runecast automates DORA compliance checks for VMware vSphere and NSX, as well as across Windows and Linux operating systems. Our platform helps financial entities navigate DORA’s complex requirements efficiently and accurately. Key features include:
Our platform provides automated vulnerability assessments and security compliance auditing, along with simple steps to remediate any discovered issues like misconfigurations or non-compliance with coverage for on-premises, hybrid and multi-cloud environments.
Runecast is a patented enterprise IT platform that provides IT ops and security teams one platform for configuration monitoring, vulnerability management, security compliance, remediation, upgrade planning and reporting.
Run it... you will be amazed by the findings. We always think that a lot of applications are secure by nature and by how they’ve been designed, but after deploying Runecast you really understand the gaps that you might have in your environment and it’s definitely an eye-opener.
Vice President - Infrastructure & Security at Oman Airports
What you will find in this guide
This Security Compliance Guide provides a comprehensive overview of common security standards (e.g.BSI IT-Grundschutz, CIS CSC, CISA, Cyber Essentials, DISA STIG, DORA, Essential 8, GDPR, HIPAA, ISO 27001, KVKK, NIST, PCI-DSS & VMware Security Configuration Guide), their associated pain points, and recommendations for achieving and maintaining compliance on AWS, Azure, Kubernetes and VMware.
Who will benefit most from it:
Protecting Critical Workloads and Sensitive Data
The Banking, Financial Services, and Insurance (BFSI) sector is a highly dynamic and fast-paced industry. It is constantly evolving, and companies must keep up with rapidly changing technological demands to remain competitive. Consumers today expect a seamless experience across regions and channels, with no compromise on the quality of service they receive.
This whitepaper is customized to meet the unique requirements of the BFSI sector and provides useful recommendations on how to automate and streamline your security and compliance endeavors, while also cutting down expenses and enhancing efficiency.
Download our solution brief to learn how Runecast's AI-powered platform can help minimize tool sprawl in your environment and transform uncoordinated, policy-less, manual, reactive efforts into proactive, automated, and continuously compliant practices.
