Achieving DORA Compliance with Redborder: A Strategic Approach

In an increasingly complex cybersecurity landscape, ensuring compliance with various regulations is critical to maintaining operational integrity and security. One such regulation gaining importance in the financial sector is the Digital Operational Resilience Act (DORA), a European Union regulation aimed at strengthening the digital resilience of financial institutions.

What exactly is DORA, and how can Redborder help your organization stay compliant?

What is DORA?

DORA, which came into force on January 1, 2023, is part of the European Union’s efforts to enhance the operational resilience of its financial sector, addressing the growing reliance on digital services. DORA’s primary objective is to ensure that financial entities, including banks, insurance companies, and other financial institutions, can effectively prevent, manage and recover from disruptions in their IT systems and operations.

DORA focuses on several key areas:

• Governance of ICT Risk: Financial institutions must have appropriate governance structures and risk management frameworks in place for their ICT (Information and Communications Technology) systems.
• Incident Reporting: DORA mandates that institutions report major ICT-related incidents, including cyberattacks, within a set timeframe.
• Third-party Risk: Financial institutions must assess the risks posed by third-party service providers and ensure they have appropriate controls in place to mitigate these risks.
• Business Continuity: Financial institutions must develop robust business continuity plans that cover potential disruptions in their ICT services.
• Operational Resilience Testing: Regular testing of resilience capabilities and disaster recovery plans is required.

How Redborder Drives Your DORA Compliance Success

As part of Redborder’s NDR (Network Detection and Response) solutions, our technology plays a crucial role in helping organizations comply with DORA requirements, particularly in the areas of cybersecurity, incident management, and third-party risk.

1. Proactive Threat Detection and Response

Redborder’s advanced machine learning and behavioral analytics capabilities enable real-time detection of network anomalies, suspicious activities, and potential cyber threats. This capability is key in helping organizations meet DORA’s requirement for robust risk management of ICT systems and operational resilience.

By identifying cyber threats early and mitigating them proactively, Redborder ensures that financial institutions stay resilient in the face of evolving cyberattacks, helping them maintain continuous and secure operations as mandated by DORA.

2. Incident Reporting and Compliance

DORA mandates the reporting of significant ICT-related incidents within a specific timeframe. Redborder’s solution not only detects these incidents but also offers streamlined reporting mechanisms to help your organization adhere to DORA’s reporting timelines.

With our NDR solution, you gain visibility into real-time and historical network events, ensuring that incidents are detected, analyzed, and reported in a compliant manner. By automating these processes, Redborder reduces the burden of manual reporting and helps mitigate the risks associated with human error or delays.

3. Third-Party Risk Management

DORA places significant emphasis on managing third-party risks. Financial institutions must ensure that their third-party vendors, including those providing IT services, are resilient to disruptions.

Redborder assists in this by providing monitoring capabilities for the networks of third-party providers. We can detect suspicious activities or vulnerabilities within third-party systems that may pose a risk to your organization, enabling you to take proactive steps to address these risks.

4. Operational Resilience and Recovery

Redborder’s ability to isolate malicious activities and block malicious IP addresses helps financial institutions enhance their operational resilience, reducing the impact of cyber incidents. In the event of an attack or system compromise, our solution ensures that organizations can contain the threat, minimizing damage, and ensuring business continuity, a key requirement under DORA.

Furthermore, Redborder’s focus on isolating suspicious activities and providing insights into network behaviors can support organizations in preparing and testing their business continuity plans, making it easier to comply with DORA’s resilience testing requirements.

5. Continuous Monitoring and Alerts

As part of its comprehensive monitoring system, Redborder provides continuous visibility into your organization’s network. Our platform offers real-time alerts for suspicious activities, ensuring that you can address potential threats before they escalate into significant disruptions.

This 24/7 vigilance supports DORA’s operational resilience objectives, ensuring that your systems remain secure and compliant around the clock.

Conclusion

Achieving and maintaining DORA compliance requires a multi-faceted approach that includes proactive cybersecurity measures, incident reporting, and operational resilience. Redborder’s NDR solution offers a robust and integrated platform that addresses each of these requirements, helping you protect your digital assets while staying compliant with EU regulations.

By leveraging Redborder, you ensure that your organization is well-equipped to manage risks, respond to incidents, and maintain continuous operations, all essential elements for achieving DORA compliance.

Stay ahead of regulatory requirements, bolster your cybersecurity posture, and ensure resilience in the face of cyber threats with Redborder.