EU’s DORA Act: Strengthening Financial Sector

The EU introduces the Digital Operational Resilience Act (DORA) to strengthen the financial sector's digital defenses. This groundbreaking move mandates robust procedures, incident management, and risk management, setting a global precedent for cybersecurity practices. Increased investment in cyber defense and risk management capabilities is expected, benefiting cybersecurity firms. Financial institutions will need to transform their underinvested areas to comply with DORA and enhance digital operational resilience. Overall, the market will experience increased resilience and reduced disruptions in the digital landscape.