DORA Compliance for FinTechs: What the Digital Operational Resilience Act Means for You
The EU Digital Operational Resilience Act (DORA) took effect in January 2025. Here is what financial institutions and ICT service providers need to do.
The Digital Operational Resilience Act (DORA) came into full force on 17 January 2025. It sets binding requirements for digital operational resilience across the EU financial sector — affecting banks, payment institutions, crypto asset service providers, and their critical IT vendors.
Who is Affected?
DORA applies to a wide range of financial entities operating in the EU:
- Credit institutions and payment institutions
- Electronic Money Institutions (EMIs)
- Crypto Asset Service Providers (CASPs) under MiCA
- Investment firms and trading venues
- Critical ICT third-party service providers (cloud, data analytics)
Key Requirements
DORA has five main pillars that organisations must address:
- ICT Risk Management — documented framework for identifying and mitigating IT risks
- Incident Reporting — mandatory reporting of major ICT incidents to national authorities within 24–72 hours
- Digital Resilience Testing — annual penetration testing; larger firms must conduct Threat-Led Penetration Testing (TLPT)
- Third-Party Risk Management — contractual requirements and exit strategies for critical IT vendors
- Information Sharing — voluntary sharing of cyber threat intelligence within the industry
How NEXORA Helps
Our DORA advisory service covers gap analysis, policy drafting, vendor contract review, and representation during regulatory inspections. Contact us to start your DORA readiness assessment.
Need a consultation?
Book a free initial consultation with the NEXORA team.