The Dynatrace journey toward DORA compliance

The Digital Operational Resilience Act (DORA) looms large on the horizon, casting its regulatory shadow over financial institutions. DORA is a European Union (EU) regulation that took effect on January 16, 2023, with full implementation starting January 17, 2025. DORA aims to bolster the IT security of financial entities such as banks, insurance companies, and investment firms. By ensuring robust cybersecurity practices, DORA seeks to enhance the digital resilience of the European financial sector, making it better equipped to withstand severe operational disruptions. The regulation covers areas like Information and Communication Technology (ICT) risk management, third-party risk, digital operational resilience testing, and reporting of major ICT-related incidents to competent authorities. Its harmonized principles address the increasing reliance on technology in financial services, safeguarding against cyber threats and promoting stability across borders.

As a strong partner of European financial institutions, Dynatrace is preparing for DORA requirements. This blog post describes how we're aligning our efforts with the upcoming changes.

Understand the Digital Operational Resilience Act

DORA isn't just an acronym; it's a compass pointing toward operational resilience. Let's break it down:

• Risk management: DORA mandates that financial institutions navigate the treacherous waters of IT and cybersecurity risks. Dynatrace, with its AI-driven observability platform, isn't merely ticking boxes-we're actively scanning the digital landscape, identifying vulnerabilities, and fortifying the ramparts.
• Business continuity: We don't just draft continuity plans; we live them. Imagine a symphony where every instrument knows its part. When operational disruptions strike-whether it's a rogue server or a cyberattack-Dynatrace services remain in harmony. The show must go on.
• Supervision and oversight: Dynatrace embraces transparency without compromising security. It welcomes constructive engagement with supervisory authorities, ensuring robust practices while safeguarding operational resilience. No smoke, no mirrors-just a commitment to excellence.

How will DORA impact Dynatrace?

The regulation imposes heightened regulatory scrutiny on ICT providers, including Dynatrace. Providers must meet rigorous requirements outlined in the framework and substantiate their compliance through tangible evidence.

How Dynatrace will support you

The Dynatrace secret weapon is data. It's not about stockpiling ones and zeros; it's about turning raw information into actionable insights. Imagine a dashboard that whispers, "Hey, there's a vulnerability brewing in Server Room B." The Dynatrace data-centric approach ensures compliance isn't a burden; it's an opportunity to fine-tune operations.

Instead of waiting for January 2025 to engage with customers, we're already engaging with CISOs, CIOs, risk managers, and compliance officers. But here's the twist: At Dynatrace, we don't just preach; we listen. Customer feedback shapes our compliance strategy. After all, resilience isn't an individual effort; it's a symphony of collaboration and shared responsibility.

As the DORA countdown ticks down and the second batch of DORA policy documents is scheduled to be released in July 2024, we extend an invitation to you for a pragmatic roundtable discussion: Let's embrace agility, dissect DORA, scrutinize our processes, and emerge stronger together.

So, to all our financial institution partners, DORA takes effect on January 17, 2025, and Dynatrace will be ready.