Why the advantages different sized businesses have in DORA compliance shouldn’t be overlooked

This post was originally published on Finextra (Security)

The deadline for organisational compliance with DORA is at our doorstep. With the 17th of January 2025 just under 6 months away, it’s safe to say that the clock is ticking for financial services to be ready for the regulation. Preparing for such a significant piece of regulation can be difficult for financial organisations of all sizes, but it is equally important for businesses to recognise the specific advantages they have to make the compliance journey smoother.

Legacy systems come with legacy knowledge

For large financial businesses, there are a variety of structural challenges that may make complying with DORA tricky. Legacy technology still underpins many financial institutions, and updating this stack to implement effective risk management frameworks is likely to require significant time and resource investment.

Siloes are one of the most common challenges facing organisations, especially those reliant on legacy technology stacks. Large organisations can have significantly siloed departments that rarely speak to each other. But in order to build a compliant structure, departments must be able to communicate easily, and work in tandem around each other’s challenges.

Reportedly, siloes are one of the leading factors limiting collaboration in three out of four companies. Tackling this can

Read the rest of this post, which was originally published on Finextra (Security).

Previous Post

UK payments group urges incoming Government to make Big Tech refund fraud victims

Next Post

Hamster Kombat hits 239M users in 81 days — Telegram’s Durov