Understanding The Digital Operational Resilience Act

The European Union's Digital Operational Resilience Act (DORA) is a regulation designed to strengthen the digital resilience of financial institutions across the EU. As financial services become more dependent on digital systems, the operational resilience of these systems is paramount. DORA aims to protect the integrity of the EU financial markets by ensuring that financial institutions have robust ICT systems in place and can recover swiftly from disruptions. While DORA specifically targets the EU financial sector, its effects ripple across the global economy, presenting new opportunities, challenges, and considerations for both EU and non-EU entities, particularly for third-party ICT service providers.