In the quest for DORA compliance, we offer a solution for financial services before the January 2025 deadline
DORA compliance is born of the financial sector’s growing dependence on Information and Communications Technology (ICT) and digital data, transforming the industry into a prime target for sophisticated threat actors. These actors aim to disrupt banking operations, pilfer customer data, and cause widespread chaos, posing a significant risk to the financial industry’s infrastructure—a cornerstone of daily operations for individuals and businesses alike.
To combat these threats, financial institutions must fortify their ability to withstand, respond to, and recover from ICT incidents, ensuring minimal disruption to critical functions and maintaining seamless service for customers and the financial system at large. The European Union’s Digital Operations and Resilience Act (DORA) represents a concerted effort to strengthen the financial sector’s defenses against ICT-related threats, setting forth stringent, uniform requirements across EU member states to achieve this goal.
“One of the main factors customers consider when choosing a bank is the security of their personal data.” [Statistica]
A platform like our own offers a solution that aligns perfectly with DORA’s mandates by providing financial organizations with the tools necessary to achieve and maintain compliance. TrueFort’s capabilities extend beyond traditional security measures, offering a comprehensive and holistic approach to safeguarding critical financial operations and for ransomware containment, plus acting as a genuine solution against zero-day threats and other sophisticated cyber attacks.
TrueFort’s Alignment with DORA Requirements:
- Risk-Based Visibility: TrueFort excels in offering granular, risk-based visibility into application and workload behaviors across the financial institution’s digital estate. This aligns with DORA’s call for resilient ICT systems that continuously identify and mitigate ICT risks.
- Anomaly Detection and Behavioral Analytics: By leveraging advanced analytics, TrueFort can detect anomalous activities that deviate from established norms, facilitating rapid response to potential ICT incidents. This capability is crucial for establishing the comprehensive business continuity plans mandated by DORA.
- Proactive and Reactive Security Postures: TrueFort’s platform allows for the implementation of proactive security measures, such as the isolation of critical assets to prevent breach spread—a key aspect of breach containment emphasized by DORA. Additionally, in the event of an active attack, the TrueFort Platform enables swift, reactive measures to contain and mitigate the incident, minimizing potential disruption.
- Integration with Third-Party Services: Understanding the importance of managing third-party risk, TrueFort offers robust monitoring and management capabilities for ICT third-party providers, ensuring that financial organizations can maintain harmonious, secure relationships with external entities as prescribed by DORA.
- Facilitating Secure Information Sharing: TrueFort promotes a culture of collaboration and information sharing among financial entities, enhancing digital operational resilience by increasing awareness of ICT risks and supporting defensive and mitigation strategies. This fosters the secure exchange of cyber threat information, a core pillar of DORA’s framework.
Preparing for DORA with TrueFort:
As the January 2025 compliance deadline approaches, financial institutions within the EU—and those operating within EU markets—are urged to begin aligning their cybersecurity initiatives with DORA’s comprehensive framework. TrueFort’s platform stands as an essential ally in this endeavor, offering:
- Application Dependency Mapping: Gain unparalleled insight into application dependencies and communication flows, enabling a thorough gap analysis in alignment with DORA’s ICT risk management pillar.
- Granular Segmentation Policies: Implement flexible, granular policies that enhance cyber resilience by ensuring least-privilege access and effectively managing server-to-app, dev-to-prod, and IT-to-OT communications. Essential businesses, like finance, require the best possible application resilience.
- Proactive and Reactive Isolation: Utilize TrueFort’s segmentation capabilities to isolate high-value assets proactively and reactively contain and mitigate breaches, significantly reducing the potential for catastrophic disruption.
As financial institutions navigate the complexities of digital transformation and the evolving threats, TrueFort offers a comprehensive solution that not only meets but exceeds DORA’s stringent requirements. By leveraging TrueFort’s advanced features and functionalities, financial entities can strengthen their cyber resilience, ensuring the protection of customer data, maintaining uninterrupted operations, and upholding the integrity of the global financial system.
For more information about how the TrueFort Platform supports DORA compliance, please contact us for a no-obligation demonstration of how we protect top 50 financial infrastructure by implementing microsegmentation tools, mitigating against zero-day threats, detecting lateral movement, modernize legacy applications, and leveraging zero-trust adoption and real-time analytics.
