CIO OPINION
98 % of financial services organisations have partnerships with thirdparty vendors .
Andre Troskie , EMEA Field CISO , Veeam
Dave Russell , SVP and Head of Strategy , Veeam
Are you a third party supplier for global financial enterprises ?
Compliance with DORA extends to cover all third parties and supply chains of European and global financial enterprises , creating the risk of a large potential blind spot . It is here where most organisations risk tripping up in the initial stages of DORA enforcement explains Andre Troskie at Veeam . Dave Russell at Veeam explains the value of data resiliency that is required in the form of immutable backups and is now the Ministry of Truth for AI .
The financial service industry is no stranger to stringent regulation . Unlike other sectors that have scrambled to comply with legislation such as NIS2 , financial service organisations are comparatively diligent when it comes to data resilience and cybersecurity . Having operated under some of the strictest regulatory standards for some time , for most , DORA compliance should be manageable – for internal operations that is .
Despite the confidence that many financial service organisations have in their ability to comply with DORA audits and reporting , they cannot afford to take their eyes off the ball . DORA compliance extends beyond internal procedures , covering third-party service providers as well .
“ It is here where most organisations risk tripping up in the initial stages of DORA enforcement . With consequences ranging from significant fines to brand and reputational damage , it is an issue that organisations cannot afford to overlook ,” says Andre Troskie , EMEA Field CISO , Veeam .
Unlike other sectors that also must comply with NIS2 , financial services organisations by necessity are
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