Data protector HYCU has teamed up with three other suppliers to help financial institutions meet the European Union’s DORA requirements.
The EU Digital Operational Resilience Act (DORA) is a set of regulations designed to enhance the cyber resilience of financial institutions. Its intent is to ensure they can function during cyber attacks or other potentially disastrous IT incidents, with standards for managing cyber security risks, incident reporting, and digital resilience for banks, insurers, payment service providers, and other financial entities. DORA goes live in January next year.
DORA is not just another bureaucratic tangle of pesky point regulations. According to HYCU CEO Simon Taylor: “There’s personal liability. Now within DORA, this is no longer, oh, the company will pay the fine. Now the CIO, or the operating board member, is responsible for the fines and for personal prosecution.”
IT consulting and services firm Valiantys has launched a Governance, Risk, and Compliance (GRC) service with a focus on DORA. It’s composed of elements from HYCU, Lansweeper, and Appfire. This is a complicated area and the four suppliers need to work together to provide the various components of an overall DORA compliance system.
Nathan Chantrenne, Valiantys chief solutions officer, stated: “By integrating advanced compliance management capabilities into Jira Service Management, we are enabling organizations to embrace a more resilient, streamlined approach to regulatory challenges.”
Subbiah Sundaram, HYCU SVP for Products, said: “We’re proud to contribute our data protection expertise to this innovative GRC solution. Our partnership with Valiantys, Appfire, and Lansweeper allows us to offer customers a seamless, integrated approach to meeting DORA’s stringent requirements.”
Valiantys is an Atlassian Platinum Solutions Partner. Lansweeper provides asset intelligence. Appfire’s software provides enterprise collaboration workflow tools across Atlassian, Microsoft, monday.com, and Salesforce. It has more than a million users and the most widely adopted portfolio of Atlassian apps across tens of thousands of customers worldwide.
The Lansweeper platform discovers and optimizes over 80 million connected devices from 20,000-plus customers – including Mercedes, Michelin, Liverpool FC, Carlsberg, Nestle, IBM, and Samsung, along with governments, banks, NGOs, and universities.
Valiantys claims its GRC service “significantly reduces the time and resources required for DORA compliance, eliminating the need for hundreds of hours of manual asset cataloging, multiple backup tools, and extensive documentation management.” It provides:
- Automated asset discovery and visualization of as-a-service applications;
- Automated data protection and offsite data recovery for over 80 ICTs (Information and Communication Technologies) with continuous expansion;
- One-click resilience testing capabilities;
- DORA-focused dashboards, notifications, and insights.
Doug Kersten, Appfire CISO, said: “As the regulatory landscape becomes more stringent and complex, organizations have a responsibility to work together to help customers navigate these emerging regulations. Collaborating with Valiantys, Lansweeper, and HYCU allows us to leverage each partner’s unique expertise to help organizations meet and adhere to the complex compliance requirements posed by DORA.”
For more information about the Valiantys GRC service, click here.
