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D-Day for digital security: On January 17, 2025, the Digital Operational Resilience Act (DORA) came into force to counter growing cyber threats. According to the Allianz Risk Barometer 2025, cyber threats pose the greatest risk to companies worldwide. With the resurgence of DDoS attacks, combined with the increased use of new technologies such as generative AI by cybercriminals and a global shortage of cybersecurity experts, the threat landscape is becoming more complex.
DORA aims to strengthen the digital resilience of financial institutions, better protect them against cyberattacks, and create common security standards across the EU. But what opportunities and challenges does DORA bring to German financial institutions?
Why is DORA Important for German Banks?
German financial institutions are seen as pioneers in security and compliance. With the implementation of DORA, they have the opportunity to further strengthen this leading position. The regulation offers many benefits:
- Increased cybersecurity: Strict IT security requirements ensure better protection against cyberattacks.
- More confidence: Customers and investors appreciate higher security standards, which can strengthen confidence in the German financial sector.
- Competitive advantage: Uniform regulations within the EU create a level playing field, allowing banks, for example, to make the best use of their expertise.
The five core requirements of DORA
The DORA framework is intended to strengthen the cybersecurity and resilience of the EU financial sector, and consists of five core requirements:
- Financial firms need robust ICT risk management, including strategies, policies and procedures to protect information, software and physical assets, combined with regular testing.
- Management, classification and reporting of ICT incidents: Firms must quickly report and resolve ICT-related incidents and cyber threats. Incidents must be reported within four hours and a detailed report must be provided within one week. Solid response plans and root cause analysis are essential.
- Digital operational resilience testing: ICT systems are regularly tested to assess vulnerabilities and the effectiveness of defenses.
- Third-party ICT risk management: Organizations need to actively manage risks from external service providers. This includes due diligence, audits, and clear contractual agreements. Third-party providers must also comply with DORA requirements.
- Information Sharing: Companies are encouraged to participate in voluntary information sharing to develop best practices. Privacy regulations must be observed.
By implementing these requirements, financial firms can strengthen their digital operational resilience and better respond to major disruptions.
Implementation Challenges
Despite the obvious benefits, there are challenges to implementing DORA:
- Skills shortage: Demand for IT security professionals far exceeds supply. Many banks struggle to find qualified staff.
- Complex requirements: The comprehensive DORA regulations require a significant investment of resources to be fully implemented.
- High costs: Implementing new security measures can be expensive.
Strategies for Successful Implementation
To address these challenges and take full advantage of the opportunities presented by DORA, financial institutions should adopt the following strategies:
- Invest in IT security: Increased budgets for security measures are essential.
- Employee training: Ongoing training ensures that employees can keep up with new requirements.
- Collaborative partnerships: Collaboration with other banks, IT service providers, and regulators can ease implementation.
- Leverage technology: Artificial intelligence (AI) and automation can help with risk assessment and compliance.
The Role of AI in DORA Compliance
Artificial intelligence offers promising solutions for efficiently meeting DORA requirements:
- Anomaly detection: AI algorithms can analyze large amounts of data and identify conspicuous patterns that indicate potential security incidents.
- Process automation: Routine tasks, such as reviewing log files or generating reports, can be automated, thereby reducing errors and increasing efficiency.
- Streamline resilience testing: AI can help simulate cyberattacks and assess the resilience of systems.
By using AI in a targeted way, banks can strengthen their cyber resilience while making efficient use of resources.
Contact our experts and find out how your business can be protected with an automated security solution.
DORA’s Impact on Customers
In addition to impacting financial institutions themselves, DORA also brings benefits to customers:
- Greater privacy: Stricter security requirements ensure better protection of personal information from unauthorized access.
- More stable services: More robust IT systems ensure more reliable delivery of financial services.
- Increased trust: Improved cybersecurity increases customer confidence in the financial sector.
Conclusion
With DORA, the EU has taken a decisive step towards strengthening cybersecurity in the financial sector. The industry now has the opportunity to consolidate its leadership and benefit from common standards. However, implementation requires investment and a holistic cybersecurity strategy. With targeted measures and the use of modern technologies, German banks, for example, can overcome the challenges and further strengthen the trust of customers and investors. DORA is more than a regulation – it is a shield for the future of the financial sector.
DORA compliance requires not only robust strategies, but also the right technical protection against threats such as DDoS attacks. With our comprehensive DDoS protection, we can shield your IT infrastructure from overload attacks and ensure the continuous availability of your financial services – even under the highest loads.
Contact us anytime to strengthen your digital resilience and protect yourself from cyberattacks.
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